Drug Companies Could Get Millions in Tax Refunds for Opioid Settlement Costs

Pharmaceutical companies are planning to deduct restitution payments from opioid lawsuit settlements from their tax filings and will get back around $1 billion each, The Washington Post reported Friday.

Johnson & Johnson, McKesson, AmerisourceBergen and Cardinal Health paid around $26 billion for their role in the opioid crisis and plan to receive tax benefits from the settlement, The Post reported. The settlement requires the companies to each pay between $5 and $8 billion to communities for the cost of the health crisis.

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