Opioid Settlement: Drug Distributors McKesson, Cencora, Cardinal Health To Pay $300M To Health Insurers
Portfolio Pulse from Vandana Singh
McKesson, Cencora, and Cardinal Health have agreed to a $300 million settlement with health insurers over their alleged role in the opioid crisis. This follows a previous $21 billion settlement with state and local governments. The companies did not admit wrongdoing.
September 03, 2024 | 7:14 pm
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NEGATIVE IMPACT
Cardinal Health will pay 30.9% of a $300 million settlement with health insurers over opioid claims, following a larger $21 billion settlement with governments.
The settlement may negatively affect Cardinal Health's stock due to the financial burden and ongoing legal scrutiny related to the opioid crisis.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Cencora is involved in a $300 million settlement with health insurers over opioid claims, responsible for 31% of the payment. This is part of ongoing legal challenges.
Cencora's involvement in the settlement may lead to short-term stock pressure due to financial and reputational impacts.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
McKesson is part of a $300 million settlement with health insurers over opioid claims, paying 38.1% of the total. This follows a $21 billion settlement with governments.
The settlement may negatively impact McKesson's stock in the short term due to financial outlay and ongoing legal issues related to the opioid crisis.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100