Former president Donald Trump was highly critical of opioid drug manufacturers. He wanted to shed more light on their role in the opioid crisis. The rise in prescription opioids has drawn the attention lawmakers across the country. Opioid prescriptions were 219 million in 2011; this was nearly triple the number reported 20 years earlier despite the fact the level of pain felt by Americans may not have increased proportionately. Others believe opioid manufacturers may have aggressively marketed these drugs to doctors without properly describing the risk.
In October 2021 Trump’s DOJ and Purdue Pharma agreed to an $8 billion opioid settlement. The deal came weeks before the election. I thought the deal would create momentum for Trump’s re-election, but it was not meant to be. However, it did create a pathway for a global opioid deal. This past summer Johnson & Johnson (JNJ) and the big opioid distributors signed a $26 billion global opioid deal. At least six states, including Nevada, Alabama, Washington, West Virginia, Oklahoma and Georgia refused to sign. Nevada AG Aaron Ford suggested a $240 million settlement was woefully inefficient.
Alabama was expected to go trial Monday of this week. However, Alabama AG Steve Marshall signed an emergency opioid settlement with Endo (END) Sunday night. Marshall is also negotiating feverishly with McKesson (MCK). I explain why Alabama was in such a rush to settle. Read more:
