Johnson & Johnson (JNJ-0.3%) and three leading opioid distributors in the country have reached a settlement over their alleged role in causing the opioid crisis, DC Attorney General Karl Racine said.
Upon execution, the deal can bring as much as $48M “to the District to support residents struggling with opioid addiction over the next 18 years,” the Attorney General tweeted.
In July, J&J (NYSE:JNJ) and three major drug distributors in the U.S., Cardinal Health (CAH+1.7%) and AmerisourceBergen (ABC+0.4%) and McKesson (MCK+1.2%), reached a $26B settlement with a group of state attorneys general over their role in fueling the nation’s opioid crisis.
Per the terms of the deal, McKesson (NYSE:MCK) had to pay $7.9B compared to $6.4B each from Cardinal Health (NYSE:CAH) and AmerisourceBergen (NYSE:ABC).