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The Journal.

How a Drug Maker Plans to Cut Off Money for Opioid Victims

The Journal.

The Wall Street Journal

Business News, Daily News, News

4.25.8K Ratings

🗓️ 31 July 2023

⏱️ 18 minutes

🧾️ Download transcript

Summary

Mallinckrodt, one of the country's largest opioid makers, is considering a plan to get out of paying more than $1 billion in settlement money to opioid victims. WSJ's Alexander Saeedy explains. Further Reading: - Hedge Funds Seek to Cut Off $1 Billion Meant for Opioid Victims Further Listening: - Purdue’s $4.5 Billion Opioid Settlement Got Thrown Out. Now What? - Two Days of Reckoning For Opioid Makers Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

In the past few years, some major companies have agreed to multi-billion dollar settlements

0:11.4

for their roles in the opioid crisis.

0:14.5

The number of states have now agreed to a $26 billion settlement with three large drug

0:21.2

distributors and Johnson and Johnson.

0:23.5

The oxycontin maker, Purdue Farmer, reaches a new deal with several states to settle lawsuits

0:29.2

for its alleged role in the opioid crisis.

0:31.3

CVS and Walgreens announced Wednesday they are settling lawsuits over their roles in the

0:36.3

opioid crisis.

0:37.6

The drug maker, Mellon Crat, is the latest to announce a major legal settlement involving

0:42.4

opioid.

0:44.8

In these settlements, state governments, municipalities, and victims agreed to not pursue future lawsuits.

0:52.8

The makers and distributors of opioids agreed to pay billions of dollars.

1:01.3

Those funds are supposed to help keep methadone clinics open to buy Narcan for a distribution

1:08.7

across their states so that emergency responders, when they get a call of an overdose, have

1:15.7

the materials on hand to save lives.

1:19.3

That's what the money is for.

1:21.6

That's our colleague, Alexander Saeed.

1:24.3

And he says, these funds are needed now more than ever.

1:28.8

Something I think we may not remember may not be fully aware of is that opioid deaths

1:33.9

in America are continuing to rise at a healthy clip.

1:38.2

As of 2020 and 2021, the annual deaths are totaling something like 80,000, 90,000.

1:44.5

So they've almost doubled since 2017 alone.

...

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