Company News

McKesson says potential opioid settlement proposal raised to up to $21 bln

Nov 3 (Reuters) - McKesson Corp and two other drug distributors could be expected pay up to $21 billion for the potential settlement of lawsuits alleging the companies fueled the U.S. opioid epidemic, the company said on Tuesday.

The news came after McKesson Corp, AmerisourceBergen and Cardinal Health in October 2019 proposed paying a combined $18 billion to resolve the 3,000-plus lawsuits, with the drugmaker Johnson & Johnson paying $4 billion.

McKesson would pay about $8 billion over 18 years as part of a proposed framework for settlement by a group of attorney generals, the company said in a filing. ( (Reporting by Nate Raymond in Boston and Manas Mishra in Bengaluru; Editing by Aditya Soni)