Drug com­pa­nies reach $260M set­tle­ment just ahead of opi­oid tri­al; Oys­ter Point set terms for $85M IPO

→ Hours be­fore the first fed­er­al opi­oid tri­al was set to be­gin, three drug dis­trib­u­tors and an opi­oid man­u­fac­tur­er agreed to a $260 mil­lion agree­ment set­tle­ment, the Wall Street Jour­nal was the first to re­port. The deal — which will see McKesson, Car­di­nal Health and Amerisource­Ber­gen pay $215 mil­lion to Sum­mit and Cuya­hoga coun­ties, and Te­va deal out $35 mil­lion in cash and ad­dic­tion treat­ments — does not re­solve the pend­ing, na­tion­wide lit­i­ga­tion that may re­sult in a set­tle­ment worth up­wards of $40 bil­lion. Ne­go­tia­tors in that case, brought by 2,300 tribes, coun­ties and cities na­tion­wide and led by sev­er­al states’ at­tor­neys gen­er­al, worked through much of Fri­day with­out suc­cess. Josh Stein, the at­tor­ney gen­er­al for North Car­oli­na, said they were try­ing to put to­geth­er a $48 bil­lion deal.

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