Top News & Analysis Cleveland

  • Jan 14- Independent advisers to the U.S. Food and Drug Administration on Tuesday unanimously voted against Nektar Therapeutics' opioid painkiller for adults with chronic low back pain, sending the drug developer's shares down 12% in extended trading. I couldn't say the benefits outweighed the risks, "said panel member Lee Hoffer from Case Western Reserve...

  • Jan 13- The U.S. Supreme Court on Monday declined to take up a dispute that has roiled the $3.8 trillion U.S. municipal bond market over payments on special revenue bonds that grew out of Puerto Rico's ongoing bankruptcy. The justices left in place rulings last year by the Boston- based 1st U.S. Circuit Court of Appeals, which determined that payments on certain...

  • Jan 13- The U.S. Supreme Court on Monday declined to take up a dispute that has roiled the $3.8 trillion U.S. municipal bond market over payments on special revenue bonds that grew out of Puerto Rico's ongoing bankruptcy. The justices left in place lower court rulings dismissing lawsuits by bond insurance companies Assured Guaranty Corporation and Ambac...

  • BALTIMORE/WASHINGTON, Jan 3- Top U.S. But they also noted the longest U.S. expansion on record could still fall victim to outside shocks, such as this week's dramatic escalation of tensions between the United States and Iran. I'm encouraged by recent jobs reports and the pace of holiday spending, "with last year's round of three Fed rate cuts helping prop up demand...

  • WILMINGTON, Del, Dec 3- Local governments in regions hard hit by the U.S. opioid epidemic have opted out of massive litigation taking aim at the drug industry over the crisis, potentially weakening a novel legal mechanism created to help settle thousands of lawsuits. However, the 541 local governments that opted out included Florida's Palm Beach County and...

  • NEW YORK/ BOSTON, Oct 23- Teva Pharmaceutical Industries Ltd's proposed $23 billion drug giveaway to settle thousands of U.S. opioid lawsuits will likely cost the company a fraction of that figure due to how it has valued those medicines, according to a Reuters review of pricing data and industry analysts. If based on the estimated cost to manufacture the drugs,...

  • CLEVELAND, Oct 21- Four large drug companies could resume talks on Tuesday to try to reach a $48 billion settlement of all opioid litigation against them, after agreeing with two Ohio counties to a $260 million deal to avert the first federal trial over their role in the U.S. opioid epidemic. Under Monday's local settlement, the distributors, which handle around...

  • CLEVELAND, Oct 21- Four large drug companies reached a last-minute $260 million legal settlement over their role in the U.S. opioid addiction epidemic, averting the first federal trial that was scheduled to start Monday morning in Cleveland. The settlement covers drug distributors AmerisourceBergen Corp, Cardinal Health Inc and McKesson Corp and Israel-...

  • CLEVELAND, Oct 21- Four drug companies reached a last-minute legal settlement over their role in the opioid addiction epidemic, a source said on Monday, just as a nine-week trial was scheduled to start in Cleveland. "We are very pleased with the results," said Armund Budish, the county executive for Cuyahoga County, which was one of the two plaintiffs in the trial that...

  • CLEVELAND, Oct 21- Four drug companies reached a last-minute legal settlement over their role in the opioid addiction epidemic, the Wall Street Journal reported Monday. Drug distributors AmerisourceBergen Corp, Cardinal Health Inc and McKesson Corp and Israel- based drugmaker Teva Pharmaceutical Industries Ltd will announce the settlement on Monday,...

  • Opioids were involved in almost 400,000 overdose deaths in the United States from 1999 to 2017, according to the U.S. Centers for Disease Control and Prevention. The following is a summary of where and how the opioid litigation is playing out across the United States:. *Ohio's Cuyahoga and Summit counties are seeking around $8 billion from the three largest U.S....

  • Oct 21- Opioid deaths in the United States have soared over the last two decades, driving a wave of litigation against drugmakers and distributors. Numbers relating to opioid use, illnesses and deaths are based on information from the U.S. Centers for Disease Control and Prevention. *Average number of opioid overdose deaths in the United States per day: about 130.

  • CLEVELAND, Oct 21- The fight over who is responsible for the opioid epidemic that has ravaged the United States heads to court on Monday in Ohio as local governments seek billions of dollars from companies that manufactured and distributed the highly-addictive painkillers. The trial will pit two Ohio counties against five companies the local governments...

  • District Judge Dan Polster in Cleveland, Ohio, came as distributors McKesson Corp, Cardinal Health Inc, AmerisourceBergen Corp and Israel- based drugmaker Teva Pharmaceutical Industries Ltd moved to reach a deal ahead of a trial before him that begins on Monday. Under the proposal, McKesson, AmerisourceBergen and Cardinal Health would pay $18 billion over 18...

  • Oct 15- Three drug distributors are in talks with state and local governments to settle opioid litigation for $18 billion, the Wall Street Journal reported on Tuesday, citing people familiar with the discussions. The three companies, which together control about 85% of the U.S. prescription drug market, are among the six that are slated to be defendants in a...

  • Oct 10- A U.S. federal appeals court on Thursday cleared the way for a landmark trial over the nation's opioid crisis, rejecting a bid by eight drug sellers to disqualify the judge, and a request by Ohio and other U.S. states to delay the Oct. 21 trial. Ohio Attorney General Dave Yost, who sought the trial delay, said he was reviewing his legal options.

  • HOUSTON, Oct 8- Citgo Petroleum Corp this week named a former BP lawyer to take on the company's top legal job as it faces creditors seeking to seize shares in the U.S.-based refiner over parent PDVSA's debts. Jack Lynch, who spent 18 years working for BP in Houston, London and Cleveland, Ohio, was named vice president of legal and government affairs, according to...

  • NEW YORK, Oct 8- Oil prices and stocks across major markets fell on Tuesday as tensions rose between China and the United States ahead of high-level trade talks, while the British pound sank on reports that Brexit negotiations were close to breaking down. Washington widened its trade blacklist to include some of China's top artificial intelligence start-ups,...

  • *U.S. still pushing to limit capital flows to China- BBG. Oct 8- U.S. stocks fell on Tuesday as hopes of progress in high-level trade talks were dashed by a report Washington was moving ahead with efforts to limit capital flows to China and the inclusion of some top Chinese startups to a blacklist. The developments weighed on the fragile sentiment fueled by a South...

  • Oct 1- Johnson& Johnson said on Tuesday it will pay $20.4 million to settle claims by two Ohio counties, allowing the U.S. healthcare giant to avoid an upcoming federal trial seeking to hold the industry responsible for the nation's opioid epidemic. Opioids were involved in 400,000 overdose deaths in the United States from 1999 to 2017, according to the U.S....