Parkland’s Lawsuit: Are Drug Distributors to Blame for the Opioid Epidemic?

Earlier this year, dozens of health systems in Texas filed a civil lawsuit against opioid manufacturers, distributors, and retailers. Two local entities, Parkland Hospital and Health System and McKesson Corp., are on opposite sides of the lawsuit. But why are the health systems taking legal action, and should distributors be held accountable for what physicians are prescribing? In 2010, opioid prescriptions peaked when providers wrote 81.2 prescriptions per 100 persons. In 2017, around 57 million people had at least one prescription for opioids, with 191 opioid prescriptions dispensed, according to CDC data. Darren Nicholson, of Burns Charest LLP in Dallas,… Full Story

Gift of Life Honors McKesson as Corporate Partner

McKesson Corp. was presented with the Corporate Partner Award from the Gift of Life Marrow Registry for its work facilitating bone marrow and stem cell transplants for leukemia and other blood cancer patients. Irving-based McKesson gives its employees opportunities to join the registry with a simple cheek swab throughout the year, and opens the drive to employees’ families and friends as well. Six life-saving transplants have resulted from the company’s matches. The Gift of Life Marrow Registry includes 354,000 individuals who have volunteered to donate blood stem cells or bone marrow since its inception in 1991. The group has coordinated… Full Story

McKesson and Aetion Partner Up for Real World Cancer Insights

McKesson and healthcare technology company Aetion have announced a collaboration to advance cancer research. The partnership is meant to advance the use of real-world evidence to aid the cancer infrastructure and help fight multiple tumor types. The Aetion Evidence Platform will work with McKesson’s iKnowMed oncology electronic health record to improve research for an FDA project at Brigham and Women’s Hospital. The solution will improve insight, safety, and allow companies to assess the economic impact of treatments. Aetion analyzes health data from the real world to provide answers about treatments, costs, and outcomes for providers, payers, and regulatory agencies. “This collaboration… Full Story

$18 Billion Settlement Talks for McKesson and Other Opioid Distributors

McKesson Corp. and other drug distributors are in talks with state attorneys general to settle all opioid disputes with $18 billion over 18 years, the Wall Street Journal reported this week. McKesson and other pharmaceutical and drug distribution companies have been named in a number of lawsuits all over the country, with states and municipalities claiming the companies didn’t control the shipment of the addictive pain pills that have led to a health epidemic nationwide, with tens of thousands of overdoses each year. The companies have already settled several of these lawsuits, and a nationwide deal would simplify the legal maneuvering and… Full Story

Parkland Joins Texas-Based Opioid Lawsuit Against Pharma Companies

Parkland Health and Hospital System is among 29 public and private hospitals in Texas that have filed a civil lawsuit against manufacturers, distributors, and retailers of opioids. The Dallas County complaint accuses the defendants of negligence, fraud, and civil conspiracy, which include Irving-based McKesson Corp., Purdue Pharma, Johnson and Johnson, and  40 other companies and individuals in the pharmaceutical industry. Last month, an Oklahoma judge ruled that Johnson and Johnson should pay the state $572 million for obscuring the dangers and overpromising the benefits of opioids. It was one of 2,000 similar lawsuits nationwide, and now Texas has joined the… Full Story

McKesson Named in Nationwide Opioid Lawsuit

McKesson Corp. has been named in a Cleveland lawsuit against many of the largest players in the pharmaceutical industry, the Washington Post reports. The filing describes the drug companies as solely focused on profits at the cost of the damage done to country by opioids. The companies say they should not be charged with second guessing the expertise of doctors who prescribe the pills. The case consolidates claims from around the country, and because of documents released by a three judge panel last week, the direction and quantity of drugs is better able to be tracked between manufacturers, distributors, and… Full Story

McKesson Appoints New Independent Director to Board

The board of directors at McKesson Corp. elected Ken Washington, the chief technology officer at Ford Motor Company, as a new independent director. This will increase the board from nine to ten members, nine of which are independent. Washington leads Ford’s research, development, and implementation of the company’s technological innovations all around the world. He previously served as vice president of the Advanced Technology Center at Lockheed Martin Space Systems Company, and also built Lockheed’s privacy program. He has also worked in Sandia National Laboratories in New Mexico. “Ken’s years of experience in technology, research, and privacy strategy at complex global organizations… Full Story

McKesson Plans for $150 Million in Lawsuit Fines for Next Fiscal Year

In an earnings call last week, pharmaceutical giant McKesson Corp. said it expects to spend $150 million in 2021 on defending itself from opioid lawsuits, up from $100 million this year, Axios reports. McKesson is the sixth largest company in terms of revenue in the country, and the $150 million is a drop in the bucket relative to its $214 billion in revenue last year, but the lawsuits are adding up, with cases in West Virginia, Oklahoma, and New York in process or recently settled. States and cities are accusing many of the major drug players of knowingly sending inordinate… Full Story

McKesson Corp. Saw Three Percent Revenue Growth in Fiscal Year 2019

Despite being in legal hot water in multiple states for the number of opioids McKesson Corp. sent to patients and doctors, the pharmaceutical giant reported a three percent increase for full-year fiscal 2019 revenue and two percent up from last year’s fourth quarter. The fourth quarter fiscal 2019 revenue was $52.4 billion, and the full year revenue was $214.3 billion. Shareholders received $1.9 billion due to share repurchases and dividends in fiscal year 2019. The company has a positive outlook looking forward due to a renewed pharmaceutical distribution relationship with CVS Health through 2023. McKesson’s cashflow was $4.0 billion for… Full Story

McKesson Corp. Appoints New Human Resources Chief

McKesson Corp has appointed Tracy Faber to executive vice president and chief human resources officer, which will take effect in October. She will report to McKesson’s new CEO Brian Tyler. Faber has been with McKesson since 2011 and is currently a senior vice president of human resources for McKesson Corporate as well as their U.S. Pharmaceutical and Specialty Solutions and the Strategic Initiatives team. Faber will advise the CEO and board of directors on executive session planning, recruiting board members, diversity, inclusion, leadership development and transformational change. “We are delighted to welcome Tracy to our executive committee,” said Tyler via… Full Story