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Drug companies reach settlement as opioid trial set to begin


Added 10-21-19 09:03:01am EST - “Four drug companies reached a last-minute legal settlement over their role in th...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Drug companies reach settlement as opioid trial set to begin”. Below is an excerpt from the article.

CLEVELAND (Reuters) - Four drug companies reached a last-minute legal settlement over their role in the opioid addiction epidemic, a source said on Monday, just as a nine-week trial was scheduled to start in Cleveland.

Drug distributors AmerisourceBergen Corp (ABC.N), Cardinal Health Inc (CAH.N) and McKesson Corp (MCK.N) and Israel-based drugmaker Teva Pharmaceutical Industries Ltd TEVA will announce the settlement on Monday, according to the source.

“We are very pleased with the results,” said Armund Budish, the county executive for Cuyahoga County, which was one of the two plaintiffs in the trial that was scheduled to begin Monday.

It was unclear if the fifth defendant, pharmacy chain operator Walgreens Boots Alliance Inc (WBA.O), had reached a settlement with the two Ohio counties that were the plaintiffs in the trial set to begin Monday morning.

The trial was scheduled to pit the two Ohio counties against the five companies that the local governments say helped fuel a nationwide opioid crisis. Some 400,000 U.S. overdose deaths between 1997 and 2017 were linked to opioids, according to government data.

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