MCK

McKesson Corporation

373.84
USD
0.64%
373.84
USD
0.64%
193.89 375.23
52 weeks
52 weeks

Mkt Cap 57.82B

Shares Out 154.68M

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Oklahoma reaches $250 mln opioid settlement with drug distributors

June 27 (Reuters) - Oklahoma has reached a $250 million settlement with AmerisourceBergen Corp ABC.N, Cardinal Health Inc CAH.N and McKesson Corp MCK.N to resolve allegations the drug distributors contributed to the opioid epidemic in the state, Oklahoma Attorney General John O'Connor said on Monday. O'Connor said Oklahoma recovered more money from the distributors than the state would have received if it had joined a nationwide $26 billion settlement that was announced last year. The national settlement also includes Johnson & Johnson JNJ.N. Oklahoma sued J&J separately but in November the case was thrown out on appeal, negating a $465 million trial judgment the state won and undermining Oklahoma's legal theories in its opioid litigation. The companies did not immediately respond to requests for comment. Oklahoma was the last state still pursuing litigation related to opioids against the three distributors. Alabama is still suing Cardinal Health and AmerisourceBergen after settling with McKesson. Local governments in West Virginia are pursuing cases after the state settled. Oklahoma will use at least 85% of the funds to help abate the opioid addiction crisis in the state, according to O'Connor. The distributors have denied wrongdoing in the epidemic, which has caused more than 500,000 U.S. overdose deaths during the past two decades, according to government data. (Reporting by Tom Hals in Wilmington, Delaware and Dietrich Knauth in New York; editing by Grant McCool) ((thomas.hals@thomsonreuters.com; +1 610 544 2712; Reuters Messaging: thomas.hals.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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