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Official: Democrats OK tightened income limits for relief

Official: Democrats OK tightened income limits for relief
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Drug companies seek billion-dollar tax deductions from opioid settlement

Drug companies seek billion-dollar tax deductions from opioid settlement
Douglas MacMillan and Kevin Schaul, The Washington Post
Feb. 12, 2021
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Faces on pills are seen at the Provocative Opioid Memorial in 2018 in Washington, D.C. There are 22,000 pills that represent the number of people who died of an opioid overdose in 2015.Washington Post photo by Matt McClain
WASHINGTON - Four companies that agreed to pay a combined $26 billion to settle claims about their roles in the opioid crisis plan to deduct some of those costs from their taxes and recoup around $1 billion apiece.
In recent months, as details of the blockbuster settlement were still being worked out, pharmaceutical giant Johnson & Johnson and the big three drug distributors - McKesson, AmerisourceBergen and Cardinal Health -all updated their financial projections to include large tax benefits stemming from the expected deal, a Washington Post analysis of regulatory filings ....

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