Five drugmakers and distributors are offering $22 billion in cash as well as drugs and services they value at $28 billion to resolve lawsuits alleging the industry fueled the U.S. opioid crisis, two sources familiar with the matter said on Wednesday.
The drug industry faces roughly 2,600 lawsuits brought by state and local governments, hospitals and other entities seeking to hold drugmakers and distributors responsible for the toll of opioid abuse. Local governments seek funds to cover costs of services in their communities.
Distributors McKesson Corp (MCK.N), AmerisourceBergen Corp (ABC.N) and Cardinal Health (CAH.N) have offered to pay $18 billion in cash over 18 years, while drugmaker Johnson & Johnson (JNJ.N) would pay $4 billion in cash, two people familiar with the matter told Reuters.
