Parker Waichman LLP Reports on a $260 Million Dollar Opioid Addiction Settlement Reached in Two Ohio Lawsuits

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Oct 23, 2019, 13:54 ET

PORT WASHINGTON, N.Y., Oct. 23, 2019 /PRNewswire/ -- Four opioid drug companies agreed to settle two Ohio lawsuits filed against them in federal court for $260 million. These Ohio lawsuits were filed by the local municipalities of Cuyahoga and Summit counties. The lawsuits alleged that AmerisourceBergen, McKesson, Cardinal Health, and Teva Pharmaceutical were responsible for causing the national opioid addiction crisis, which has cost the Ohio counties millions of dollars in additional medical, educational and law enforcement expenses. The opioid lawsuits also alleged that opioid drug makers overstated the medicinal benefits of opioids, downplayed the known severe side effects and health risks, failed to prevent the increasing numbers of suspicious orders, and were responsible for shipping enormous amounts of the drugs across the United States.

To date, the four opioid companies have been unsuccessful at settling the thousands of opioid addiction lawsuits filed nationwide which could total tens of billions of dollars in damages. The fifth defendant in the two Ohio county lawsuits, Walgreens Boots Alliance, was not part of the $260 million settlement.

As part of the settlement agreement, the opioid distributors will immediately pay $215 million in cash and contribute $25 million worth of Suboxone, which is an opiate addiction treatment medication. The opioid crisis has lasted over 20 years and has resulted in the overdose deaths of over 400,000 people. There are over 2,600 lawsuits filed against opioid companies seeking monetary damages for injuries, drug addiction, congenital disabilities, and economic hardships face by patients prescribed opioid medications and governmental agencies.

A global settlement is actively being negotiated. If one is agreed upon, it would place billions of dollars into a trust, and the monies would be used to provide settlement payouts to thousands of plaintiffs. A court-approved allocation formula estimates the value of an opioid global settlement amount at $48 billion.

PARKER WAICHMAN LLP IS OFFERING FREE OPIOID CASE REVIEWS

Parker Waichman LLP is helping the families and victims of undisclosed opioid side effects hold those responsible by filing a civil lawsuit to recover monetary compensation for medical treatment, rehabilitation, damages, pain and suffering. For more information, please contact attorney Jerrold S. Parker at Parker Waichman LLP through the firm's website YourLawyer.com or by calling 1-800-YOURLAWYER (1-800-968-7529).

SOURCE Parker Waichman LLP