The committee will reveal in a Wednesday report that after adapting a method used by CDC scientists and adjusting for inflation, it found that the crisis cost the U.S. economy $1.47 trillion in 2020, a $487 billion increase from 2019.
U.S. President Joe Biden will announce on Friday nearly $1.5 billion to fund access to medications for opioid overdoses, sanctions against traffickers, and increased funding for law enforcement, the White House said.
U.S. pharmacy operators Walgreens Boots Alliance, Walmart Inc. and Kroger Co. on Tuesday faced off against the state of New Mexico in the latest trial over their alleged role in the U.S. opioid epidemic, following recent high-profile losses for pharmacies in other lawsuits.
Walgreens Boots Alliance contributed to the opioid epidemic in San Francisco through its sale of prescription drugs in the city, a federal judge concluded on Wednesday.
In its second quarter financial report this year, Teva Pharmaceuticals announced that it had arrived at an almost $5-billion settlement for thousands of pending opioid liability lawsuits.
Teva Pharmaceutical Industries and AbbVie’s Allergan unit on Tuesday reached a $58 million settlement with the city of San Francisco just before completion of a trial over claims that they fueled an opioid epidemic in the city.
The U.S. Supreme Court on Monday rejected bids by Insys Therapeutics Inc. founder John Kapoor and another former executive of the drugmaker to overturn their convictions for conspiring to bribe doctors to prescribe addictive opioids and defraud insurers into paying for them.
Walmart Inc. and CVS Health Corp. said on Wednesday they would stop filling prescriptions for controlled substances issued by telehealth startups Cerebral Inc. and Done Health.
Teva Pharmaceutical Industries and AbbVie’s Allergan unit reached a settlement worth $161.5 million to resolve claims the companies fueled an opioid epidemic in West Virginia, state attorney general Patrick Morrisey said on Wednesday.
As America continues to grapple with the opioid crisis, nonprofit advocacy group Public Citizen is calling for the U.S. Food and Drug Administration (FDA) to place a moratorium on the approval of any new opioid medications.