Pharmaceutical Distributors and J.&J. Announce $26 Billion Deal to End Opioids

After two years of wrestling, the country’s three major drug distributors and a pharmaceutical giant have reached a $26 billion deal with states that will free some of the largest companies in the industry from all legal liability in the opioid epidemic. The announcement was made Wednesday afternoon by a bipartisan group of state attorneys …

States and Cities Close to Interim $26 Billion Deal on Opioid Cases

The distributors were accused by the plaintiffs of long turning a blind eye to large orders. Collectively, companies will pay $21 billion in 18 payments over 17 years. Fees for attorneys who pursue and finance costly litigation for years will be deducted from the total figure and are expected to be paid out faster than …

Robinhood seeks a $35 billion valuation in its IPO

last minute Robinhood CEO Vlad Tenev.Credit…Brendan Mcdermid/Reuters Robinhood announced the expected price range for its IPO on Monday, bringing its popular stock trading app one step closer to trading the markets. In an updated prospectus, Robinhood said it plans to sell its shares for between $38 and $42 each. At the midpoint of this range, …

IMF Board Supports $650 Billion Aid Plan to Help Poor Countries

VENICE — The International Monetary Fund took a step Friday to alleviate rising global inequality and help poorer nations access vaccines, saying its board of directors has approved a release plan. $650 billion reserve fund countries can use to purchase vaccines, finance healthcare, and pay off debts. The decision comes at a crucial moment as …

EU Fines Volkswagen and BMW Nearly $1 Billion for Emissions Secrecy

Germany’s three largest automakers have illegally cooperated to limit the effectiveness of their emissions technologies, resulting in higher levels of harmful diesel pollution, European antitrust officials said on Thursday. Volkswagen and the Porsche and Audi divisions must pay 500 million euros or 590 million euros, and BMW will pay 373 million euros or 442 million …