© Reuters. FILE PHOTO: The Johnson & Johnson logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 29, 2019. REUTERS/Brendan McDermid
By Nate Raymond
(Reuters) -A group of state attorneys general unveiled on Wednesday a landmark $26 billion settlement with large drug companies for allegedly fueling the deadly nationwide opioid epidemic, but the deal still requires support from thousands of local governments.
Under the settlement proposal, the three largest U.S. drug distributors — McKesson Corp (NYSE:), Cardinal Health Inc (NYSE:) and AmerisourceBergen (NYSE:) Corp — are expected to pay a combined $21 billion, while drugmaker Johnson & Johnson (NYSE:) would pay $5 billion.
The money is expected to be used on addiction treatment, family support, education and other social programs.
“There’s not enough money in the world,…