AVNphotolab/iStock via Getty Images
- A jury in a New York state court has found Teva Pharmaceutical Industries (TEVA +0.8%) guilty of playing a role in fueling the prescription opioid epidemic.
- The same jury cleared pharmaceutical distributors AmerisourceBergen (ABC +0.9%), Cardinal Health (CAH +0.4%), and McKesson (MCK +0.6%).
- In July, those three companies agreed to pay up to $1.2B to settle opioid claims in New York.
- The jury also found Johnson & Johnson (JNJ +0.4%) division Janssen and Mallinckrodt (MNK) not guilty. In July, J&J reached a $26B settlement with several state attorneys general, including New York.
- Drug store chains Rite Aid (RAD +0.9%), Walgreen Boots Alliance (WBA -0.5%), as well as Walmart's (WMT +0.1%) pharmacy division were also found not guilty.
- The jury also found that New York State holds some responsibility for "creating a public nuisance" in regards to the opioid crisis, and is accountable for 10% of that responsibility.
- The trial in Suffolk County consolidated cases from that county, Nassau County, and New York State.
- Companies that became part of Teva, including Cephalon, Actavis, and Anda were included in the verdict.
- Earlier this month, Allergan, now part of AbbVie (ABBV -0.3%), reached a $200M settlement with New York State Attorney General Letitia James over its alleged role in helping to fuel the epidemic.
- Dear readers: We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion.