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U.S. states reject $18 billion proposal to settle opioid lawsuits, discussions ongoing: sources


Added 02-14-20 12:10:03pm EST - “Twenty one states have rejected an $18 billion settlement proposal from three ma...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “U.S. states reject $18 billion proposal to settle opioid lawsuits, discussions ongoing: sources”. Below is an excerpt from the article.

(Reuters) - Twenty one states have rejected an $18 billion settlement proposal from three major U.S. drug distributors to resolve lawsuits over their alleged role in the opioid crisis, although settlement discussions continue, according to two sources familiar with the matter.

The Wall Street Journal reported on Friday that the states objected to a settlement offer sent to the companies’ law firms earlier this week, instead pushing for a larger payment.

The dissenting states want the companies - AmerisourceBergen Corp, McKesson Corp and Cardinal Health Inc - to pay between $22 billion and $32 billion, the WSJ reported on.wsj.com/37kSRkA, citing a person familiar with a matter.

Sources with two state attorneys general told Reuters the parties are in active discussions, adding the proposal is not dead but requires wider support.

Shares of the three companies, which together handle about 85% of the U.S. prescription drug market, were down about 1% or less.

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