The Court has preliminarily approved a proposed settlement of a maximum of approximately $6.24 billion and a minimum of at least $5.54 billion in a class action lawsuit, called In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, MDL 1720 (MKB) (JO). The lawsuit is about claims that merchants paid excessive fees to accept Visa and Mastercard cards because Visa and Mastercard, individually, and together with their respective member banks, violated the antitrust laws.
How much will the settlement pay for the opioid crisis?
"The settlement will provide thousands of communities across the United States with up to approximately $19.5 billion over 18 years," the drug distributors said in their statement. AmerisourceBergen will pay $6.1 billion, Cardinal Health will pay $6 billion and McKesson, $7.4 billion.
What does the $21 billion drug wholesalers' settlement mean?
Three massive drug wholesalers — AmerisourceBergen, Cardinal Health and McKesson — will pay a combined $21 billion. "This settlement represents real accountability," said North Carolina state Attorney General Josh Stein, who helped negotiate the deal.
What does the Allergan-Allergan settlement mean for opioid lawsuits?
If finalized, the agreement, along with a companion deal reached by Teva earlier this week, would send as much as $6.6 billion to communities harmed by the opioid epidemic. The settlement with Allergan, which made branded as well as generic opioids, would resolve more than 2,500 related lawsuits. Brian Snyder/Reuters
What is the Johnson & Johnson opioid settlement?
Johnson & Johnson, the consumer products and health giant that manufactured generic opioid medications, will contribute $5 billion to the settlement. The company announced in 2020 it would get out of the prescription opioid business in the U.S. altogether.
