Thomson Reuters: Drug Companies avert landmark trial in OH
October 21, 2019
Source: Thomson Reuters
The deal settles claims brought by Ohio's Cuyahoga and Summit counties, which had accused the companies of fueling a nationwide opioid crisis. Some 400,000 U.S. overdose deaths between 1997 and 2017 were linked to opioids, according to government data.
The settlement, if extrapolated to nationwide deal resolving all litigation or the four defendants, suggests a settlement value of around $48 billion, based on a court-approved allocation formula.
The lawsuits accuse drugmakers of overstating the benefits of opioids while downplaying the risks. Distributors allegedly failed to flag and halt a rising tide of suspicious orders, shipping vast amounts of the pills across the country.