McKesson Reaches Settlement With State of West Virginia on Opioid Order Monitoring and Reporting
IRVING, Texas--(BUSINESS WIRE)--May 2, 2019--McKesson Corporation (NYSE:MCK) today announced that it has settled litigation with the State of West Virginia to resolve all claims regarding McKesson’s operations in the state.
Under the terms of the agreement, McKesson will pay $14.5 million to the State this year and an additional $4.5 million per year for the next five years. Funds from the settlement are to be used in support of state initiatives to combat the opioid epidemic, including rehabilitation, job training, mental health and other important efforts.
The agreement does not include any admission of liability, and McKesson expressly denies wrongdoing. McKesson is committed to working with others to end this national crisis, however, and is pleased that the settlement provides funding toward initiatives intended to address the opioid epidemic.
Helping Fight the Epidemic
As one of the nation’s largest pharmaceutical distributors, McKesson’s distribution teams deliver life-saving medicines to pharmacies, hospitals and clinics that serve millions of patients every day. Over the past decade, as the opioid epidemic evolved rapidly, McKesson has continually enhanced its expertise, processes and technologies dedicated to protecting the integrity of the supply chain and preventing diversion.
The company is dedicated to maintaining and continuously enhancing strong programs designed to detect and prevent opioid diversion within the pharmaceutical supply chain, while also protecting the availability of appropriate treatments for patients with serious illnesses and injuries.
Controlled Substance Monitoring Program (CSMP): In recent years, McKesson has made significant enhancements to how it monitors and controls the distribution of controlled substances. McKesson’s CSMP team brings significant regulatory and anti-diversion expertise to the job. The company’s program uses sophisticated algorithms designed to monitor for suspicious orders, block the shipment of controlled substances to pharmacies when certain thresholds are reached and ultimately report those orders to the DEA. McKesson is proud of its CSMP and will continue its efforts to be an industry leader in the fight against prescription drug diversion.
The opioid epidemic is a complicated public health crisis that must be addressed through a comprehensive and collaborative approach. McKesson is committed to engaging with all who share the company’s dedication to acting with urgency to address this issue and working together to end this epidemic.
More information about the company’s actions to combat the opioid epidemic can be found here.
About McKesson Corporation
McKesson Corporation, currently ranked 6 th on the FORTUNE 500, is a global leader in healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. McKesson partners with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare to help provide the right medicines, medical products and healthcare services to the right patients at the right time, safely and cost-effectively. United by our ICARE shared principles, our employees work every day to innovate and deliver opportunities that make our customers and partners more successful — all for the better health of patients. McKesson has been named the “ Most Admired Company ” in the healthcare wholesaler category by FORTUNE, a “ Best Place to Work ” by the Human Rights Campaign Foundation, and a top military-friendly company by Military Friendly. For more information, visit www.mckesson.com.
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KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA TEXAS
INDUSTRY KEYWORD: TECHNOLOGY SUPPLY CHAIN MANAGEMENT SOFTWARE HEALTH BIOTECHNOLOGY ONCOLOGY PHARMACEUTICAL PROFESSIONAL SERVICES LEGAL RETAIL
SOURCE: McKesson Corporation
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PUB: 05/02/2019 12:15 PM/DISC: 05/02/2019 12:15 PM