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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jaclyn Jaeger2022-09-12T16:22:00
Two cases involving five major U.S. retail pharmacy chains winding their way through court foretell a long and costly road ahead for all companies across the pharmaceutical supply chain battling litigation for their alleged roles in fueling the nationwide opioid epidemic.
In total, more than 3,000 opioid-related cases have been filed in state and federal courts over claims broadly alleging both the actions and nonactions of drugmakers, drug distributors, and pharmacy chains “led to a severe oversupply of prescription opioids, which ultimately created a public nuisance,” according to court documents. Judge Dan Polster of the U.S. District Court for the Northern District of Ohio is presiding over the now coordinated multidistrict opioid litigation.
The consolidated cases in this first wave of litigation are called “bellwether” trials because each represent test cases for opioid-related litigation to come. Unlike some major drugmakers and drug distribution companies, no retail pharmacy chain has yet reached a nationwide opioid-related agreement.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2024-07-11T14:40:00Z By Adrianne Appel
Rite Aid agreed to pay $7.5 million and allow the Department of Justice to access nearly $402 million from the company’s forthcoming bankruptcy case to settle allegations it helped fuel the nation’s opioid epidemic.
2023-03-14T20:53:00Z By Adrianne Appel
The Department of Justice announced its intervention in a lawsuit alleging retail pharmacy chain Rite Aid filled hundreds of thousands of prescriptions for medically unnecessary oxycodone and other opioids in violation of multiple federal laws.
2022-11-15T18:29:00Z By Kyle Brasseur
Walmart announced it agreed to a $3.1 billion nationwide settlement designed to resolve all the potential state lawsuits it faces for its alleged role in fueling the opioid epidemic.
2024-12-03T21:32:00Z By Aaron Nicodemus
German petrochemical parts supplier Aiotec agreed to pay $14.5 million to settle allegations that it engaged in a four-year conspiracy to dismantle and ship a plastics manufacturing plant owned by a U.S. company to Iran, in violation of U.S. sanctions.
2024-12-03T17:48:00Z By Aaron Nicodemus
Kiromic BioPharma will pay no fine to the Securities and Exchange Commission after self-reporting that it failed to disclose material information about two cancer drugs to investors.
2024-11-26T19:59:00Z By Jeff Dale
The U.K. Financial Conduct Authority fined the London branch of Australian-based Macquarie Bank Limited more than 13 million pounds (U.S. $16.3 million) for “serious control failures” that allowed a trader to conceal hundreds of fictitious trades over a 20-month period.
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