Drug Companies to Pay N.Y. More Than $1 Billion to Settle Opioid Lawsuit

Three drug distributors and Johnson & Johnson are also on the verge of a $26 billion deal to settle the thousands of nationwide lawsuits.

The three largest pharmaceutical distributors will pay more than $1 billion in a settlement to New York, an agreement announced on Tuesday that could become part of a larger tentative $26 billion deal with states and municipalities to resolve thousands of nationwide lawsuits. The New York agreement with Cardinal Health, McKesson Corp and AmerisourceBergen is yet another deal in a series of settlements in a far-reaching trial that is underway in Central Islip. Johnson & Johnson, one of the largest drugmakers in the case, agreed to a $230 million settlement with the state just days before arguments were set to begin in June. Johnson & Johnson and the three distributors are additionally on the verge of a $26 billion deal with states and municipalities, the result of negotiations that began over two years ago. That agreement could be announced later this week, according to several people with knowledge of the negotiations who also cautioned that any deal could still be significantly modified or even fall apart entirely before then.