Latest news with #AmerisourceBergen
Irish Times
05-07-2025
- Business
- Irish Times
Profits rise at BluePoint Pharmaceuticals but Cork firm warns of impact of tariffs
Cork-based pharmaceutical company BluePoint Pharmaceuticals has recorded post-tax profit of $12 million (€10.2 million) from its Irish operations and paid a $25 million dividend but warned that 'geopolitical risks' could impact its operations. Turnover at the Little Island firm grew to $218.66 million in the year ending September 2024, according to recently filed accounts with the Companies Registration Office. Turnover grew by just less than $650,000 in 2024, but this came after a $38 million increase in turnover in 2023 to $218.01 million. The company is ultimately owned by one of the largest pharmaceutical companies in the world, New York-listed Cencora Inc, formerly known as AmerisourceBergen Corporation. The parent company reported global turnover in 2024 of $294 billion. READ MORE With a US-based parent company, the company warned that US import tariffs post a risk to its operations noting the economic measures could affect its input costs or have 'adverse impacts' on demand for its products and supply chains. The company's directors warned that, among other factors, the uncertainty around the impact of tariffs, market volatility and 'slower economic growth or recession' could impact the business in 2025. Gross profits widened slightly in 2024 as costs of sales decreased but distribution and administrative expenses cut back pretax profits to within $50,000 of 2023. The company paid $1.83 million in tax in the financial year, compared with $1.94 million the year prior. Post-tax profits grew from $12.232 million in 2023, to $12.379 million in 2024. HP Pharmaceuticals Unlimited paid a $25 million dividend to shareholders, having not proposed a dividend since it made a $17 million shareholder payout in 2022. Staffing at the Cork business remained static at 36 in the period, though total payroll costs increased from $4.7 million in 2023, to $5.5 million in 2024, primarily driven by overall wages and salaries increasing by 17 per cent. Salary paid to directors stood at $513,000.
CBS News
13-06-2025
- Business
- CBS News
Baltimore judge proposes slashing city's $266 million opioid verdict or new trial
A Baltimore judge on Thursday proposed reducing the city's $266 million settlement from a verdict against two drug distributors, suggesting that the companies pay just under $52 million or receive a new trial to determine damages. In a 96-page ruling, Baltimore City Circuit Judge Lawrence Fletcher-Hill agreed with the companies, McKesson and AmerisourceBergen, that the jury's award was too high and that jurors attributed too much blame to the companies for the opioid crisis. "This decision is disappointing to say the least. We are evaluating the decision and considering all of our options," Scott said in a statement. "While the court acknowledged that the City proved that McKesson and AmerisourceBergen were liable for the City's opioid crisis, we are disappointed that the court abandoned the remainder of the findings of the jury, which carefully reviewed this case over nearly two months last year." Baltimore City awarded millions after litigation with pharmaceutical companies The city began litigation against pharmaceutical manufacturers and distributors for their role in the opioid epidemic in 2018, opting out of a global settlement in order to pursue more restitution money. Public health experts said that the crisis began because of the availability of prescription opioids, which led residents to turn to illicit drugs. Throughout 2024, the city reached settlements with several large companies including Allergan, CVS, Teva, Cardinal Health, and Walgreens, bringing total recoveries to $402.5 million by September 2024. In Nov. 2024, a Baltimore jury found McKesson and AmerisourceBergen liable in Baltimore's opioid epidemic and awarded the City of Baltimore more than $266 million in damages. A month later, the city began working with the Board of Estimates and City Council to come up with a plan for using the restitution funds. The plan included administrative and oversight costs, funding for health department and recovery programs, community engagement, and planning for the replacement of the Druid Health Clinic. Opioid crisis in Baltimore A June 2024 report published by the Baltimore Banner and New York Times found that the death toll from opioid deaths among residents reached more than 6,000 over the past six years – more than double that of any other large U.S. city. The report also found that the opioid crisis in Baltimore disproportionately impacted Black residents, particularly those aged 55 to 70. Then, community members accused the city of failing to prioritize the needs of Black communities affected by the opioid epidemic.
CBS News
13-05-2025
- Health
- CBS News
West Virginia court declines to answer whether opioids distribution can cause public nuisance
West Virginia's Supreme Court on Monday declined to answer a federal court's question in an appeal in a landmark lawsuit over whether the distribution of opioids can cause a public nuisance. The 3-2 opinion returns the case to the 4th U.S. Circuit Court of Appeals in Richmond, Virginia. It's been nearly three years since a federal judge in Charleston ruled in favor of three major U.S. drug distributors who were accused by Cabell County and the city of Huntington of causing a public health crisis by distributing 81 million pills over eight years in the county. AmerisourceBergen Drug Co., Cardinal Health Inc. and McKesson Corp. also were accused of ignoring the signs that Cabell County was being ravaged by addiction. U.S. District Judge David Faber in Charleston said West Virginia's Supreme Court had only applied public nuisance law in the context of conduct that interferes with public property or resources. He said to extend the law to cover the marketing and sale of opioids "is inconsistent with the history and traditional notions of nuisance." Last year the appeals court in Richmond, Virginia, sent a certified question to the state Supreme Court, which states: "Under West Virginia's common law, can conditions caused by the distribution of a controlled substance constitute a public nuisance and, if so, what are the elements of such a public nuisance claim?" Had the state justices ruled that opioids distribution can cause a public nuisance, the case would have returned to the 4th Circuit anyway. Had the West Virginia court found that opioids can't cause a public nuisance, the appeal would have ended, the 4th Circuit has said. Instead, a majority of the West Virginia justices refused to get involved. Justice Haley Bunn delivered the opinion of the West Virginia Supreme Court. Justice Beth Walker, who is retiring next month, issued a separate opinion. Chief Justice Bill Wooton was joined in a dissenting opinion by Circuit Judge Tera Salango. Salango and Circuit Judge Andrew Dimlich heard the case on temporary assignment after two other justices disqualified themselves. Paul Farrell Jr., an attorney representing the plaintiffs, said Monday he was disappointed that the justices declined to answer the legal question. "The fight isn't over," Farrell said. "There's still a long way to go. We continue on our path to seek justice." Farrell said the appeals court still must address a combination of factual and legal issues. A Cardinal Health spokesperson declined to comment on Monday's ruling. Emails seeking comment from AmerisourceBergen and McKesson weren't immediately returned. During arguments earlier this year before the state Supreme Court over the certified question, Steve Ruby, an attorney for the companies, called the plaintiffs' arguments to grant the public nuisance "radical" and that, if granted, it would "create an avalanche of activist litigation." Thousands of state and local governments have sued over the toll of opioids. The suits relied heavily on claims that the companies created a public nuisance by failing to monitor where the powerful prescriptions were ending up. Most of the lawsuits were settled as part of a series of nationwide deals that could be worth more than $50 billion. But there wasn't a decisive trend in the outcomes of those that have gone to trial. The appeals court had noted that the West Virginia Mass Litigation Panel, which works to resolve complex cases in state court, has concluded in several instances that opioid distribution "can form the basis of a public nuisance claim under West Virginia common law." In his 2022 decision, Faber also said the plaintiffs offered no evidence that the defendants distributed controlled substances to any entity that didn't hold a proper registration from the U.S. Drug Enforcement Administration or the state Board of Pharmacy. The defendants also had suspicious monitoring systems in place as required by the Controlled Substances Act, he said. In 2021 in Cabell County, an Ohio River county of 93,000 residents, there were 1,059 emergency responses to suspected overdoses — significantly higher than each of the previous three years — with at least 162 deaths. The plaintiffs had sought more than $2.5 billion that would have gone toward opioid use prevention, treatment and education over 15 years.
The Independent
12-05-2025
- Health
- The Independent
West Virginia court declines to answer whether opioids distribution can cause public nuisance
West Virginia 's Supreme Court on Monday declined to answer a federal court's question in an appeal in a landmark lawsuit over whether the distribution of opioids can cause a public nuisance. The 3-2 opinion returns the case to the 4th U.S. Circuit Court of Appeals in Richmond, Virginia. It's been nearly three years since a federal judge in Charleston ruled in favor of three major U.S. drug distributors who were accused by Cabell County and the city of Huntington of causing a public health crisis by distributing 81 million pills over eight years in the county. AmerisourceBergen Drug Co., Cardinal Health Inc. and McKesson Corp. also were accused of ignoring the signs that Cabell County was being ravaged by addiction. U.S. District Judge Faber in Charleston said West Virginia's Supreme Court had only applied public nuisance law in the context of conduct that interferes with public property or resources. He said to extend the law to cover the marketing and sale of opioids 'is inconsistent with the history and traditional notions of nuisance.' Last year the appeals court in Richmond, Virginia, sent a certified question to the state Supreme Court, which states: 'Under West Virginia's common law, can conditions caused by the distribution of a controlled substance constitute a public nuisance and, if so, what are the elements of such a public nuisance claim?' Had the state justices ruled that opioids distribution can cause a public nuisance, the case would have returned to the 4th Circuit anyway. Had the West Virginia court found that opioids can't cause a public nuisance, the appeal would have ended, the 4th Circuit has said. Instead, a majority of the West Virginia justices refused to get involved. Justice Haley Bunn delivered the opinion of the West Virginia Supreme Court. Justice Beth Walker, who is retiring next month, issued a separate opinion. Chief Justice Bill Wooton was joined in a dissenting opinion by Circuit Judge Tera Salango. Salango and Circuit Judge Andrew Dimlich heard the case on temporary assignment after two other justices disqualified themselves. Paul Farrell Jr., an attorney representing the plaintiffs, said Monday he was disappointed that the justices declined to answer the legal question. 'The fight isn't over," Farrell said. "There's still a long way to go. We continue on our path to seek justice.' Farrell said the appeals court still must address a combination of factual and legal issues. A Cardinal Health spokesperson declined to comment on Monday's ruling. Emails seeking comment from AmerisourceBergen and McKesson weren't immediately returned. During arguments earlier this year before the state Supreme Court over the certified question, Steve Ruby, an attorney for the companies, called the plaintiffs' arguments to grant the public nuisance 'radical' and that, if granted, it would 'create an avalanche of activist litigation.' Thousands of state and local governments have sued over the toll of opioids. The suits relied heavily on claims that the companies created a public nuisance by failing to monitor where the powerful prescriptions were ending up. Most of the lawsuits were settled as part of a series of nationwide deals that could be worth more than $50 billion. But there wasn't a decisive trend in the outcomes of those that have gone to trial. The appeals court had noted that the West Virginia Mass Litigation Panel, which works to resolve complex cases in state court, has concluded in several instances that opioid distribution 'can form the basis of a public nuisance claim under West Virginia common law.' In his 2022 decision, Faber also said the plaintiffs offered no evidence that the defendants distributed controlled substances to any entity that didn't hold a proper registration from the U.S. Drug Enforcement Administration or the state Board of Pharmacy. The defendants also had suspicious monitoring systems in place as required by the Controlled Substances Act, he said. In 2021 in Cabell County, an Ohio River county of 93,000 residents, there were 1,059 emergency responses to suspected overdoses — significantly higher than each of the previous three years — with at least 162 deaths. The plaintiffs had sought more than $2.5 billion that would have gone toward opioid use prevention, treatment and education over 15 years.
Associated Press
12-05-2025
- Health
- Associated Press
West Virginia court declines to answer whether opioids distribution can cause public nuisance
CHARLESTON, (AP) — West Virginia's Supreme Court on Monday declined to answer a federal court's question in an appeal in a landmark lawsuit over whether the distribution of opioids can cause a public nuisance. The 3-2 opinion returns the case to the 4th U.S. Circuit Court of Appeals in Richmond, Virginia. It's been nearly three years since a federal judge in Charleston ruled in favor of three major U.S. drug distributors who were accused by Cabell County and the city of Huntington of causing a public health crisis by distributing 81 million pills over eight years in the county. AmerisourceBergen Drug Co., Cardinal Health Inc. and McKesson Corp. also were accused of ignoring the signs that Cabell County was being ravaged by addiction. U.S. District Judge Faber in Charleston said West Virginia's Supreme Court had only applied public nuisance law in the context of conduct that interferes with public property or resources. He said to extend the law to cover the marketing and sale of opioids 'is inconsistent with the history and traditional notions of nuisance.' Last year the appeals court in Richmond, Virginia, sent a certified question to the state Supreme Court, which states: 'Under West Virginia's common law, can conditions caused by the distribution of a controlled substance constitute a public nuisance and, if so, what are the elements of such a public nuisance claim?' Had the state justices ruled that opioids distribution can cause a public nuisance, the case would have returned to the 4th Circuit anyway. Had the West Virginia court found that opioids can't cause a public nuisance, the appeal would have ended, the 4th Circuit has said. Instead, a majority of the West Virginia justices refused to get involved. Justice Haley Bunn delivered the opinion of the West Virginia Supreme Court. Justice Beth Walker, who is retiring next month, issued a separate opinion. Chief Justice Bill Wooton was joined in a dissenting opinion by Circuit Judge Tera Salango. Salango and Circuit Judge Andrew Dimlich heard the case on temporary assignment after two other justices disqualified themselves. Paul Farrell Jr., an attorney representing the plaintiffs, said Monday he was disappointed that the justices declined to answer the legal question. 'The fight isn't over,' Farrell said. 'There's still a long way to go. We continue on our path to seek justice.' Farrell said the appeals court still must address a combination of factual and legal issues. A Cardinal Health spokesperson declined to comment on Monday's ruling. Emails seeking comment from AmerisourceBergen and McKesson weren't immediately returned. During arguments earlier this year before the state Supreme Court over the certified question, Steve Ruby, an attorney for the companies, called the plaintiffs' arguments to grant the public nuisance 'radical' and that, if granted, it would 'create an avalanche of activist litigation.' Thousands of state and local governments have sued over the toll of opioids. The suits relied heavily on claims that the companies created a public nuisance by failing to monitor where the powerful prescriptions were ending up. Most of the lawsuits were settled as part of a series of nationwide deals that could be worth more than $50 billion. But there wasn't a decisive trend in the outcomes of those that have gone to trial. The appeals court had noted that the West Virginia Mass Litigation Panel, which works to resolve complex cases in state court, has concluded in several instances that opioid distribution 'can form the basis of a public nuisance claim under West Virginia common law.' In his 2022 decision, Faber also said the plaintiffs offered no evidence that the defendants distributed controlled substances to any entity that didn't hold a proper registration from the U.S. Drug Enforcement Administration or the state Board of Pharmacy. The defendants also had suspicious monitoring systems in place as required by the Controlled Substances Act, he said. In 2021 in Cabell County, an Ohio River county of 93,000 residents, there were 1,059 emergency responses to suspected overdoses — significantly higher than each of the previous three years — with at least 162 deaths. The plaintiffs had sought more than $2.5 billion that would have gone toward opioid use prevention, treatment and education over 15 years.
