Cardinal Health Settlement Agreement 2019

Posted by on December 5, 2020

Drug trafficker Cardinal Health posted a charge of $5.6 billion in the third quarter and said the company had “in principle agreed” to a comprehensive agreement with states, cities and others to pay the amount over 18 years to resolve opioid cases. Pennsylvania, North Carolina, Tennessee and Texas are in comparative talks with lawyers for thousands of cities and counties whose cases are before federal court. Cardinal Health General and Business Media: Brandi Martin 614.757.3383 brandi.martin@cardinalhealth.com Cardinal Health, along with the other two major drug distributors and a pharmaceutical company, last month secured a $260 million deal with Cahuyoga and Summit Countys in northeastern Ohio. Cardinal also agreed, in principle, to a comprehensive agreement with a leading group of four attorneys general from a multi-state task force, which must resolve all pending and future opioid actions and claims of states and local governments, but not private plaintiffs. Cardinal Health has nearly 100 years of operational experience in nearly 46 countries. For more information, see cardinalhealth.com. Follow us on Twitter, Facebook and LinkedIn. The agreement would remove AmerisourceBergen, Cardinal Health and McKesson Corporation, which together distribute about 90% of the country`s drugs, along with Johnson-Johnson and Teva, the Israeli-based generic drug manufacturer, from a growing list of more than 2,300 complaints to federal and regional courts. While the companies vigorously contest the accusations of both counties, they see the settlement of the war process as an important step towards a comprehensive solution and reasonable relief. Businesses expect compensatory funds to be used to support initiatives to combat the opioid epidemic, including treatment, rehabilitation, mental health and other important efforts. Kaufmann said the agreement with the two counties allowed for discussion of a global settlement. AmerisourceBergen offers pharmaceuticals, value services and business solutions that improve access to care. Tens of thousands of health care providers, veterinarians and breeders trust us as partners in the pharmaceutical supply chain.

Global manufacturers need us for services that advance the commercial success of their products. Through our day-to-day work — driven by our 21,000 employees — we have a responsibility to create a healthier future. AmerisourceBergen is ranked #10 on the Fortune 500 with annual sales of more than $160 billion. The company is headquartered in Valley Forge, Pa. and is present in more than 50 countries. For more information, visit amerisourcebergen.com. Why this is important: Cardinal is the first company to set aside billions of dollars to prepare national regulations on opiates, although a final agreement has not yet been reached. Investors and financial media: Kevin Moran 614.757.7942 kevin.moran@cardinalhealth.com time of a final agreement is uncertain, ceo Mike Kauffman said on a conference call.

CLEVELAND——-AmerisourceBergen (NYSE: ABC), Cardinal Health (NYSE: CAH) and McKesson (NYSE: MCK) announced this morning that they have reached an agreement with two Ohio counties, Cuyahoga and Summit, for a $215 million agreement.

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