Drug wholesalers and J&J agree to tentative $26B deal to settle opioid lawsuits

• The big three U.S. drug wholesalers, McKesson (MCK -0.0%), AmerisourceBergen (ABC -0.2%) and Cardinal Health (CAH -0.2%), along with Johnson & Johnson (JNJ +1.5%), have tentatively agreed to collectively pay $26B to settle lawsuits brought by states, counties and cities over their respective roles in the opioid epidemic.
• Judges overseeing the litigation in federal and state courts still need to sign off on the deal.
• OxyContin maker Purdue Pharma agreed to an $8B settlement with the feds last month.
• Other players in the crisis, including Teva Pharmaceutical Industries (TEVA +1.3%) and AbbVie (ABBV -1.8%) unit Allergan (Actavis) have yet to settle
• https://seekingalpha.com/news/3633211-drug-wholesalers-and-j-and-j-agree-to-tentative-26b-deal-to-settle-opioid-lawsuits