Sumary of 4 companies near $26 billion settlement to resolve opioid lawsuits:
- Johnson are finalizing a $26 billion settlement to resolve thousands of lawsuits over the nation’s opioid crisis, according to four people familiar with the discussions.
- The settlement could be completed as early as this week, according to people familiar with the negotiations, but it would still require the approval of more than 40 states and hundreds of cities and counties.
- Once finalized, it would result in billions of dollars flowing to states to be used for prevention, treatment and recovery.
- Medics care for a man who was found unresponsive after overdosing on an opioid in the Boston suburb of Salem, Mass.
- 9, 2017.Brian Snyder / Reuters filePaul Geller, one of the lead lawyers representing cities and counties, described the upcoming settlement as a “game changer” for parts of the country hit hard by the opioid epidemic.
- “There is no question we are too late for some families, but you’ve got to start somewhere and start sometime and better now to really start to make these changes in local regions where it is desperately needed,” said Geller, of the firm Robbins Geller.
- Johnson said in a statement that it has agreed to contribute $5 billion towards a final settlement to resolve the lawsuits.
- ”In an initial step toward a broader agreement, the three distributors settled with New York for roughly $1.1 billion, New York State Attorney General Letitia James announced Tuesday.