Three major providers of prescription medicine proposed a $10 billion settlement for claims they helped fuel the U.S. opioid overuse, people familiar with the negotiations told Bloomberg News.
McKesson (MCK - Get Report) , Cardinal Health (CAH - Get Report) and AmerisourceBergen (ABC - Get Report) made the proposal during talks with a group of state attorneys general, the news service said.
The National Association of Attorneys General, which is negotiating on behalf of 35 states, countered with a $45 billion figure to cover costs from opioid addiction and overdoses, sources said.
The pharmaceutical distributors face many lawsuits brought by cities and counties, with other lawyers leading the litigation. So getting all sides to come to terms will be a challenge, Bloomberg reported.
The lawsuits are grounded in the idea that the drugmakers used aggressive marketing to sell the opioid medications while playing down their risks, the report said.
On Tuesday, McKesson shares are 5.9% lower at $136.10, Cardinal Health is 6.3% lower at $42.68, and AmerisourceBergen is off 5.7% at $83.64.