Giants of the Pharmaceutical Companies have Fallen.
Pharmaceutical companies are coming under fire. Last year a lawsuit was beginning while this year it is set to finalize. Among the largest under fire are Mallinckrodt, McKesson, AmerisourceBergen and Perdue for selling excessive amounts of opioids to pharmacies, pushing out opioids into public consumption.
Mallinckrodt, the largest pharmaceutical company for opioids, reached a $1.6 billion dollar deal with state and local governments this February 2020. 47 states and territories agreed this settlement. The money paid will be over an eight-year span. From what is said, the money is set to go toward costs of opioid treatment centers, forcing Mallinckrodt to file Chapter 11 bankruptcy.
The CDC – Center for Disease Control and Prevention – said from a date span of 1999 to 2017, over 218,000 people have died from prescription opioids. Other pharmaceutical giants such as McKesson, Johnson & Johnson and Perdue are to have similar to Mallinckrodt negotiations set soon, once accepted by the plaintiffs.
AmerisourceBergen, with locations in California, is also under fire for outfitting pharmacies with excessive amounts of oxycodone, hydrocodone and codine syrup. One pharmacy in Stockton, California received 450,500 tables of hydrocodone in an 11-month period, pushing out into the public the equivalent of 40,954 pills per month. If each bottle contains 30 pills that’s roughly 1,366 bottles a month. Another city in California, Redwood City is said to have the similar amounts.