J&J, McKesson and more may reap billions in opioid settlement tax breaks

Four drug companies in settlement talks with states to resolve claims about their role in the opioid epidemic are poised to receive about $1 billion each in tax breaks if they finalized a combined payout totaling more than $26 billion, The Wall Street Journal reported Feb. 12.

The companies are Johnson & Johnson, McKesson, AmerisourceBergen and Cardinal Health.

Below are the amounts the companies both expect to pay as part of the settlement and receive as a tax benefit, according to regulatory filings.

  • McKesson expects to pay $8.1 billion and receive $1.4 billion.

  • AmerisourceBergen expects to pay $6.6 billion and receive $1.1 billion.

  • Cardinal Health expects to pay $6.6 billion and receive $943 million.

  • Johnson & Johnson Expects to pay $5 billion and receive $1 billion.

More articles on opioids:
McKinsey’s hedge fund affiliate may profit from the firm’s $573M opioid settlement
Physician, pharmacist lose licenses for inappropriate opioid dispensing, Medicare fraud
Opioid overdoses up nearly 30% during the pandemic, study says

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