Huge opioid settlement hits late snag

The first federal case in the opioid crisis seems headed to trial Monday after an 11th-hour settlement appeared to be breaking down.
A $50B bid from four state AGs and corporate executives to settle hundreds of lawsuits and head off the federal trial faced opposition from local officials.
There’s been no progress in getting three distributors — McKesson (NYSE:MCK), Cardinal Health (NYSE:CAH) and AmerisourceBergen (NYSE:ABC) — to boost a settlement offer from $18B over 18 years, according to the lead attorney for 2,400 cities and counties.
And Teva (NYSE:TEVA) isn’t budging from its offer of a few hundred million dollars plus anti-addiction drugs, and there’s been little negotiation with Walgreens (NASDAQ:WBA), he says.
Johnson & Johnson (NYSE:JNJ) has agreed to contribute $4B over a shorter time frame.
After hours: MCK -3.1%; CAH -3%; ABC -1.8%; WBA -0.4%; JNJ +0.1%; ENDP -2.4%; TEVA -1.6%.
https://seekingalpha.com/news/3507076-huge-opioid-settlement-hits-late-snag