There is an anti-opioid demonstration in front of the US Department of Health and Human Services headquarters.
Patrick Semansky/APOver the next two weeks, some of the biggest U.S. corporations accused of wrongdoing could finalize payouts to victims and governments worth $32 billion.
"We have lost more than a million Americans to this epidemic, and sadly, it is at an all-time high as overdose deaths continue to rise," said Texas Attorney General Ken Paxton last week.
The root of the problem was pharmaceutical companies that made, distributed and sold the drugs.
As communities across the U.S. scramble for resources to combat an opiate crisis that keeps getting worse, this comes as.
According to the Centers for Disease Control and Prevention, more than 104,000 Americans died from drug overdoses in the past year. That is a new record for the U.S.
Two major negotiations are close to completion.
Major drug distributors and wholesalers include AmerisourceBergen, Cardinal Health and McKesson.
The four firms have agreed to payouts of $26 billion. The money from that deal would go to Native American tribes.
A final settlement plan involving most of the 50 states, local governments and victims could be announced as early as Friday according to sources directly involved in the negotiation.
The Sackler family, owners of Purdue Pharma, are involved in the other intense negotiation.
Judge Chapman described shuttle diplomacy among dozens of parties in a report released last week.
She concluded that there was substantial progress toward a deal worth as much as $6 billion.
The Sacklers and their privately owned company have faced a growing public backlash for their alleged role in pushing to boost sales of pain medication despite the rising rates of addiction and overdose death.
Cars pass the headquarters of Purdue Pharma. A new settlement in the case of the prescription drug OxyContin is expected to be announced by a federal mediation on Wednesday or Thursday.
Frank Franklin II/APThe earlier settlement, struck last year, would have meant aPayout of roughly $4.5 billion. The deal was rejected by a federal judge.
In her Feb. 18 report, Chapman said that the Sacklers had increased their offer to between $5.5 billion and $6 billion.
The Sacklers are still demanding total release from future liability. The family who ran the company could not be sued in the future for their role in pushing the drug.
It is not clear how many states will sign on to the sweetened offer. The unanimous acceptance demanded by the Sacklers has not been achieved, according to Chapman.
People who became addicted to prescription medications and families who lost loved ones to fatal overdoses are some of the victims of the opiate crisis.
Most of the cash from these deals will go to reducing future addiction and death, with relatively small payouts to those already harmed.
Supporters of these settlements maintain that they are the fastest way to resolve legal morass while directing as much money as possible to help with the public health crisis.
Similar provisions to the Big Tobacco settlement of the 1990s are included in the corporate opioid deals.
The goal is to change the way highly addictive drugs are marketed and sold. In the last few years, the amount of opioids prescribed in the country has declined.
Even if the deals are struck, lawsuits will continue against companies that sold the drugs.
The major pharmacy chains have refused to negotiate similar settlements because they deny any wrongdoing.
In a landmark federal trial last year, an Ohio jury found that pharmacy chains didn't do enough to keep customers safe.
The companies will have to pay damages according to the judge. The pharmacy chains will appeal.
All Rights Reserved © 2024
