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Lucas Jackson - 1 McKesson - 1 Jeffrey Stein - 1 Elizabeth Burr - 1 Leroy Leo - 1 Abinaya Vijayaraghavan - 1 Mariam Sunny - 1 Arun Koyyur - 1
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Rite Aid - 1 Rite - 1 Endo International - 1 REUTERS - 1 Bankruptcy - 1 District of - 1 MedImpact Healthcare Systems - 1 Elixir . - 1

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☆ Rite Aid files for bankruptcy faced with high debt, opioid lawsuits
  + stars: | 2023-10-16 | by ( Abinaya V Dietrich Knauth | Abinaya V | Dietrich Knauth | ) www.reuters.com   time to read: +3 min
Rite Aid, one of the largest U.S. pharmacy retailers, stumbled under its high debt, revenue declines, increased competition, and opioid litigation, according to its court filings. Founded in 1962, Rite Aid employs 45,000 people at more than 2,000 retail stores in 17 states, and will remain open for business during the bankruptcy. Rite Aid, which has denied wrongdoing, said it hopes to reach an "equitable" settlement of opioid litigation in bankruptcy. A woman shops inside a Rite Aid store underneath a DeepCam security camera in New York City, New York, U.S., June 25, 2020. Rite Aid closed 200 stores before its bankruptcy, and it expects to close more as its Chapter 11 case proceeds.
Persons: Lucas Jackson, McKesson, Jeffrey Stein, Elizabeth Burr, Leroy Leo, Abinaya Vijayaraghavan, Mariam Sunny, Arun Koyyur, Marguerita Choy, Bill Berkrot Organizations: Rite Aid, Rite, Endo International, REUTERS, Bankruptcy, District of, MedImpact Healthcare Systems, Elixir ., Rite Aid . Rite, Aid, Thomson Locations: U.S, New York City , New York, District of New Jersey, Bengaluru
☆ Novartis to pay $245 mln to end antitrust cases over Exforge drug generics
  + stars: | 2022-12-29 | by ( Jonathan Stempel | ) www.reuters.com   time to read: +1 min
NEW YORK, Dec 28 (Reuters) - Novartis AG (NOVN.S) said on Wednesday it will pay $245 million to end antitrust litigation accusing the Swiss drugmaker of trying to delay the launch in the United States of generic versions of its Exforge hypertension drug. The class-action litigation stemmed from a 2011 licensing agreement between Novartis and Endo International Plc's (ENDPQ.PK) Par Pharmaceutical unit. Novartis's annual U.S. sales of brand-name Exforge exceeded $400 million before generic versions were sold, court papers show. The case is In re Novartis and Par Antitrust Litigation, U.S. District Court, Southern District of New York, No. Reporting by Jonathan Stempel in New York; Editing by Muralikumar Anantharaman and Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.
☆ Factbox: Pharmacies, drug companies settle lawsuits over U.S. opioid crisis
  + stars: | 2022-11-22 | by ( Brendan Pierson | Thomson Reuters | Brendan Pierson Reports On Product Liability Litigation | ) www.reuters.com   time to read: +5 min
The following are major companies that were accused of contributing to the crisis, and settlements or judgments involving those companies. Teva Pharmaceutical Industries Ltd (TEVA.TA)-In November, finalized claims nationwide for $4.25 billion, some of which is to be paid as a supply of the overdose-reversing drug naloxone. AbbVie Inc (ABBV.N)-In November, finalized a $2.37 billion nationwide settlement resolving claims against Allergan, a company it acquired in 2020. Endo International Plc (ENDPQ.PK)-Reached a $450 million settlement with more than 30 states as part of a bankruptcy filing in August. Mallinckrodt Plc (MNK.A)-Reached a $1.7 billion nationwide settlement as part of its bankruptcy reorganization plan, approved in February.
☆ CVS, Walmart, Walgreens agree to pay $13.8 bln to settle U.S. opioid claims
  + stars: | 2022-11-02 | by ( Brendan Pierson | Thomson Reuters | Brendan Pierson Reports On Product Liability Litigation | ) www.reuters.com   time to read: +5 min
Walmart has agreed to pay $3.1 billion, mostly up front, according to two people familiar with the matter. The proposed settlement, which would be the first nationwide deal with retail pharmacy companies, follows nationwide opioid settlements with drugmakers and distributors totaling more than $33 billion. CVS, Walgreens and Walmart are the three largest retail pharmacies in the country by market share. The agency has attributed much of the recent rise in overdose cases to illegally manufactured fentanyl, a powerful synthetic opioid. A congressional report last month put the economic toll of the opioid crisis in 2020 alone at $1.5 trillion.
☆ CVS, Walmart, Walgreens agree to pay $13.8 bln to settle U.S. opioid claims - sources
  + stars: | 2022-11-02 | by ( Brendan Pierson | Thomson Reuters | Brendan Pierson Reports On Product Liability Litigation | ) www.reuters.com   time to read: +3 min
The proposed settlement calls for CVS to pay $5 billion over 10 years, Walgreens to pay $5.7 billion over 15 years and Walmart to pay $3.1 billion, mostly up front, according to the people. Walgreens and CVS declined to comment. Walmart and a spokesperson for the plaintiffs' attorneys in the litigation did not immediately respond to requests for comment. The proposed settlement, which would be the first nationwide deal with retail pharmacy companies, follows nationwide opioid settlements with drugmakers and distributors totaling more than $33 billion. CVS, Walgreens and Walmart are the three largest retail pharmacies in the country by market share.
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