Attorneys for two Ohio counties revealed on Monday that a $260 million settlement had been reached in a lawsuit against four pharmaceutical firms over the drug companies’ role in the ongoing opioid crisis. The settlement came just hours before the case was to go to trial in federal court on Monday morning.
Under the terms of the agreement, which was first reported by the Wall Street Journal and confirmed by attorneys for the plaintiffs, Cuyahoga and Summit Counties will receive a total of $260 million from pharmaceutical distributors McKesson Corp., Cardinal Health Inc., and AmerisourceBergen Corp., and drug manufacturer Teva Pharmaceutical Industries. The two counties had asked for almost $8 billion.
The three distributors will pay a combined total of $215 million to the two counties immediately while Teva will pay $20 million in cash between the end of the year and 2021 and provide $25 million worth of the emergency overdose reversal drug Suboxone.
“The proposed settlement will make significant progress to abate the epidemic by providing resources for and applying funds directly to necessary opioid-recovery programs,” the plaintiffs’ attorneys said in a statement Monday.
More than 2,500 state, local, and tribal governments have filed suit against drug manufacturers