Talk about 5G is everywhere right now, from the trade war with China to the ban on Huawei. Here's what 5G is and why it matters.Technologyread more
A federal judge in New York City on Wednesday said Deutsche Bank and Capital One can turn over financial documents related to President Donald Trump and his businesses in...Politicsread more
Shares of L Brands, the owner of Victoria's Secret and Bath & Body Works, rose nearly 11% in aftermarket trading Wednesday after the company reported it beat revenue and...Retailread more
CNEX, backed by Microsoft and Dell, filed new allegations in a Texas suit accusing China's Huawei and an executive of trade secrets theft.Technologyread more
Officials remained firmly committed to a "patient" policy stance at their meeting earlier this month.The Fedread more
Among the many ways Trump has shattered White House norms, his impulsive public communications rank among the most consequential. By inspiring investors or spooking them, his...Politicsread more
A slew of retail earnings the past two weeks makes it clear that while Americans continue to shop, they aren't ringing registers at department stores.Retailread more
Stocks that would benefit from a federal infrastructure spending program fell after President Trump ended a meeting on infrastructure spending with Democratic leaders.Market Insiderread more
Controversial lawyer Michael Avenatti was indicted on charges of trying to extort athletic shoe giant Nike out of tens of millions of dollars by threatening to go public with...Politicsread more
Parker said Wednesday that American Airlines is committed to Boeing's 737 Max once it's re-certified by the Federal Aviation Administration.Airlinesread more
Despite the president's claim that "you can't investigate and legislate simultaneously," certain must-pass pieces of legislation, including a debt ceiling hike, will...Politicsread more
(Adds further details on case, background on litigation, company statement)
May 2 (Reuters) - Drug distributor McKesson Corp has agreed to pay $37 million to resolve a lawsuit by the state of West Virginia seeking to hold it responsible for contributing to the opioid epidemic, the state's attorney general said on Thursday.
The settlement announced by West Virginia Attorney General Patrick Morrisey resolves one of hundreds of cases McKesson faces by states and local governments alleging it failed to identify suspicious orders by pharmacies of painkillers.
The settlement was the largest that a distributor has struck with a state in the litigation. West Virginia in 2017 settled similar cases against rival distributors Cardinal Health Inc and AmerisourceBergen Corp for $20 million and $16 million, respectively.
McKesson did not admit wrongdoing as part of the settlement, which resolved a lawsuit Morrisey's office filed in Boone County Circuit Court in 2016.
"McKesson is committed to working with others to end this national crisis ... and is pleased that the settlement provides funding toward initiatives intended to address the opioid epidemic," the company said in a statement.
Opioids, including prescription painkillers, heroin and fentanyl, were involved in a record 47,600 overdose deaths in 2017, according to the U.S. Centers for Disease Control and Prevention.
The epidemic has prompted lawsuits by state and local governments accusing drug manufacturers like Purdue Pharma of deceptively marketing opioids and distributors like McKesson of failing to detect the diversion of the drugs for illicit purposes.
McKesson in January 2017 agreed to pay $150 million to resolve a federal investigation by the U.S. Drug Enforcement Administration into whether it failed to report suspicious orders of addictive painkillers. (Reporting by Nate Raymond in Boston Editing by Marguerita Choy and Meredith Mazzilli)