As pressure mounts on pharmaceutical wholesalers over their role in the opioid crisis, McKesson (MCK) agreed to pay $175 million to settle a lawsuit filed by investors who claimed the big distributor failed to properly oversee suspicious shipments of the addictive painkillers.

Besides the payout, McKesson also agreed to take several steps to bolster corporate governance, including separating the roles of the chairman and chief executive officer, creating term limits for board members, reforming the board compliance committee, generating board reports concerning complaints about compliance issues, and toughening clawback policies for executives who fail to perform properly, according to the stipulation agreement.

Unlock this article by subscribing to STAT Plus and enjoy your first 30 days free!

GET STARTED

What is it?

STAT Plus is STAT's premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond.

What's included?

  • Daily reporting and analysis
  • The most comprehensive industry coverage from a powerhouse team of reporters
  • Subscriber-only newsletters
  • Daily newsletters to brief you on the most important industry news of the day
  • Online intelligence briefings
  • Frequent opportunities to engage with veteran beat reporters and industry experts
  • Exclusive industry events
  • Premium access to subscriber-only networking events around the country
  • The best reporters in the industry
  • The most trusted and well-connected newsroom in the health care industry
  • And much more
  • Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr.

Leave a Comment

Please enter your name.
Please enter a comment.

Your daily dose of news in health and medicine

Privacy Policy