\nAmerisourceBergen (NYSE: ABC), Cardinal Health (NYSE: CAH) and McKesson (NYSE: MCK) announced today that they have negotiated a comprehensive proposed settlement agreement which, if all conditions are satisfied, would result in the settlement of a substantial majority of opioid lawsuits filed by state and local governmental entities.\n<\/p>\n
\nWhile the companies strongly dispute the allegations made in these lawsuits, they believe the proposed settlement agreement and settlement process it establishes, which is outlined below, are important steps toward achieving broad resolution of governmental opioid claims and delivering meaningful relief to communities across the United States. The companies remain deeply concerned about the impact the opioid epidemic is having on individuals, families, and communities across the nation and are committed to being part of the solution.\n<\/p>\n
\nThe proposed settlement agreement is the result of years of negotiation with state attorneys general and representatives of the subdivisions. If the proposed settlement agreement and settlement process leads to final settlement through the process outlined below, it would collectively provide thousands of communities across the United States up to approximately $21 billion over 18 years. It would also establish a clearinghouse that consolidates data from all three distributors, which will be available to the settling states to use as part of their anti-diversion efforts.\n<\/p>\n
\nSubject to certain future milestones described below and the level of participation, the companies would be responsible for up to the following contributions, payable over 18 years:\n<\/p>\n
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- \nAmerisourceBergen: $6.4 billion\n<\/li>\n
- \nCardinal Health: $6.4 billion\n<\/li>\n
- \nMcKesson: $7.9 billion\n<\/li>\n<\/ul>\n
\nThe proposed settlement agreement would become binding only if all conditions outlined below are satisfied:\n<\/p>\n