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Opioid Settlement

All articles tagged with #opioid settlement

business7 months ago

US States Approve $7.4 Billion Purdue Pharma Opioid Settlement

All 50 states and territories have approved a $7.4 billion settlement with Purdue Pharma over its role in the opioid epidemic, which includes contributions from the Sackler family. The deal aims to provide funds for community recovery and allows Sackler family members to retain the right to sue for alleged misconduct. The settlement is pending court approval and follows a series of legal battles, including a Supreme Court overturning a previous bankruptcy deal.

via NPR|
#bankruptcy#business#opioid-settlement
health2 years ago

Optimizing Opioid Settlement Funds: Strategies for Effective Utilization

Nebraska is grappling with how to utilize nearly $180 million in opioid settlement payments as the state faces a growing toll from opioids. The funds, which began in March 2021, are expected to be used for treatment, prevention, and addressing the effects of opioid addiction. However, legal confusion and a recent change in policy by the Department of Health and Human Services have caused delays in distributing the funds. Nebraska's opioid problem is worsening, with an increase in overdose deaths and nonfatal opioid overdoses. The state's share of the settlement payments could help mitigate the opioid crisis, but the sudden change in plans by the HHS has frustrated committee members. The department will develop its own recommendations for using the funds, which will be presented to the committee in February.

via Omaha World-Herald|
#health#nebraska#opioid-addiction
law-and-justice2 years ago

Supreme Court Divided on Purdue Pharma's Controversial Opioid Settlement

The Supreme Court justices appeared divided over a controversial bankruptcy settlement for Purdue Pharma that would shield the wealthy Sackler family from civil lawsuits related to the opioid epidemic in exchange for billions of dollars to address the crisis. The U.S. Trustee Program challenged the deal, arguing that it violated federal law by granting the Sacklers wide-ranging legal immunity. The justices' questions reflected concerns about the practical effect of unraveling the settlement and the broader issue of whether the Sacklers should be released from liability. The decision could have implications for other mass-injury settlements. A ruling is expected by June.

via The New York Times|
#bankruptcy#law-and-justice#opioid-settlement
health2 years ago

"Oakland County Seeks Public Input on Allocation of Opioid Settlement Funds"

Oakland County officials are seeking public input on how to spend $35 million in opioid settlement money over 20 years. The money is intended for the treatment and prevention of opioid addiction and overdoses. The county has planned a series of listening sessions to gather input from residents and workers, with sessions scheduled at various locations throughout September. The county has seen a significant increase in synthetic opioid-involved deaths and has administered over 1,000 units of naloxone in the past year.

via Detroit Free Press|
#health#oakland-county#opioid-settlement
legal2 years ago

Supreme Court Delays Purdue Pharma's $6B Opioid Settlement, Reviews Appeal

The Supreme Court has temporarily blocked a $6 billion bankruptcy settlement by Purdue Pharma, the maker of OxyContin, that aimed to protect the Sackler family owners from civil lawsuits related to opioid abuse. The court has also agreed to hear a challenge to the settlement by Purdue. The order directs parties to file briefs on whether federal courts have the authority to approve a reorganization under Chapter 11 of the U.S. Bankruptcy Code that includes a release of claims held by nondebtors against nondebtor third parties without their consent. The case will be argued by the end of the year, and the stay on the settlement will be lifted once the court rules.

via CNBC|
#bankruptcy#civil-lawsuits#legal
business2 years ago

Mallinckrodt's $200 Million Opioid Payment in Jeopardy as Settlement Deal Falters.

Mallinckrodt Plc, a drugmaker that owes $200 million to victims of the opioid crisis as part of a $1.7 billion settlement, is on the verge of reneging on the deal due to financial struggles. Some of its lenders are urging management to skip the payment and negotiate a new deal, potentially by filing for bankruptcy again. Lawyers for the victims are vowing to fight back, but US bankruptcy law doesn't work in their favor. Due to complexities in allocating payouts, many of the victims have yet to receive a single penny from an initial $450 million payment Mallinckrodt made last year.

via Yahoo Finance|
#bankruptcy#business#lawsuits
business2 years ago

Kroger Settles Multimillion-Dollar Opioid Lawsuit with West Virginia.

Kroger will pay $68 million to settle a lawsuit in West Virginia alleging the company contributed to the oversupply of opioids in the state and failed to maintain effective controls. The settlement resolves the last remaining defendant in a state lawsuit involving Walgreens, Walmart, CVS and Rite Aid. The financial impact to Kroger will be minimal. The lawsuits allege the pharmacies’ contribution to the oversupply of prescription opioids in the state have caused “significant losses through their past and ongoing medical treatment costs.”

via CNN|
#business#kroger#lawsuit
health2 years ago

Opioid Crisis Causes Prescription Denials for Xanax and Adderall Patients

Patients suffering from anxiety and sleep disorders are being denied prescriptions for medications such as Xanax and Adderall due to a cap on the number of controlled substances that pharmacies are allowed to dispense, as part of a 2021 settlement with three of the nation’s largest pharmaceutical manufacturers over the opioid epidemic. Pharmacists are being forced to turn away patients who rely on prescription medications, and some are sent to independent pharmacies that haven’t yet reached the threshold on how many orders they can fill. The cap is affecting the ability of independent pharmacists to aid those who are suffering from attention-deficit hyperactivity disorder (ADHD) and were prescribed drugs such as Concerta and Ritalin.

via New York Post |
#adderall#health#opioid-settlement