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  1. #21
    Taking A Stand!!!

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    Default Re: Big McKesson Shareholder, Governance Experts Say the Opioid Crisis Should Have Co

    McKesson's Board Clears Itself of Fault on Opioid Oversight

    A year after McKesson Corp. announced a $150 million settlement with the U.S. government over allegations it failed to properly oversee shipments of painkillers, a board committee cleared directors and senior executives of wrongdoing.

    The drug distributor’s executives “placed great emphasis on compliance, encouraged ethical conduct” and improved the company’s opioid-monitoring processes, a panel of three independent directors said in an April 20 report.

    The firm, with annual revenue of about $200 billion, eliminated oxycodone and hydrocodone sales from its incentive program for sales representatives in 2012, after the Drug Enforcement Administration raised concerns about certain shipments, according to the report.

    “Members of senior management did not ignore issues raised by the DEA, treat them less than seriously, or decline to devote adequate resources to address the issues,” the directors wrote. Executives “acted in an earnest desire to satisfy the DEA’s expectations and fulfill the company’s obligations as to preventing diversions.”
    https://www.bloomberg.com/news/artic...ioid-oversight

  2. #22
    Scab Hating Union Thug

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    Default Re: Big McKesson Shareholder, Governance Experts Say the Opioid Crisis Should Have Co

    They clear themselves of any wrong doing?

    Sent from my SM-J327T using Tapatalk

  3. #23
    Taking A Stand!!!

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    Default Re: Teamsters demand McKesson CEO return millions of dollars for role in opioid crisi

    McKesson Board Exonerates Execs from Opioid Crisis, But The Teamsters Cry Foul

    Following an internal investigation, the McKesson (MCK) board absolved senior management of any failures to oversee the distribution of opioid painkillers, an issue that has haunted several wholesalers as the opioid crisis in the U.S. worsens.

    Notably, the probe found that senior managers “worked in earnest” to meet Drug Enforcement Agency requirements, such as reporting suspicious orders to pharmacies, and had oversight procedures in place for a monitoring program and distribution facilities.

    Consequently, the board declared McKesson executives acted in “good faith” to meet the obligations of a 2008 settlement with the DEA, which was reached because the wholesaler failed to report suspicious orders, according to this statement. As part of the deal, McKesson paid $13 million to resolve the civil charges.

    But the findings were dismissed by the International Brotherhood of Teamsters, which has accused the wholesaler of exacerbating the opioid crisis and late last year pushed the board to conduct the probe.

    The Teamsters maintained the investigation was inconsequential because the board failed to identify executives responsible for instances in which the company did not adequately track opioid shipments. Last year, for instance, McKesson paid a $150 million fine for failing to report suspicious orders and the DEA described the penalty as among the “most severe sanctions” ever to involve a drug distributor.
    https://teamster.org/news/2018/04/mc...sters-cry-foul

  4. #24
    Taking A Stand!!!

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    Default Re: Teamsters demand McKesson CEO return millions of dollars for role in opioid crisi

    Opioid Epidemic's Other Battleground: Teamsters vs. McKesson
    As Travis Bornstein stepped to the microphone at the International Brotherhood of Teamsters' annual convention, the details of his son's death 18 months earlier remained bitterly fresh.

    He could see the vacant lot in Akron, Ohio — one of the battleground states in America's opioid addiction crisis — where his overdosing son's body was dumped by a companion. The longtime president of a Teamsters local, Bornstein recalled his son's growing need to shoot heroin, an addiction he said was launched by painkilling opioid drugs prescribed for broken arms and surgically repaired elbows over Tyler's athletics-filled 23 years.

    Bornstein's speech at the June 2016 convention represented a reckoning for the Teamsters, said General Secretary Ken Hall, the union's second-in-command. Dozens of union members would come forward, Hall said, and speak about their own families' struggles with addiction set in motion by opioids.

    "They've got family members dying from the flooding of the market of these opioids," Hall said. "It's happening in the Teamster family — that made it an issue."

    It also put McKesson Corp. in the crosshairs of the 1.4 million-member union, creating a new front in the war on opioids. Instead of fighting the epidemic via the health care system, the courts or legislatures, the Teamsters are taking it to McKesson's annual shareholder meeting and corporate boardroom.
    https://teamster.org/news/2018/06/op...rs-vs-mckesson

  5. #25
    Taking A Stand!!!

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    Default Re: Teamsters demand McKesson CEO return millions of dollars for role in opioid crisi

    Investors: Hold McKesson accountable for exacerbating opioid crisis


    This is just wrong. We are fast becoming a nation of drug addicts. They are everywhere. And at least weekly they are on the news here in New Mexico for the horrible abuse and neglect they commit on their children. Because yes, it is a fact many graduate to heroin or meth.

    Every day, the opioid epidemic claims 115 American lives, while communities across the country are awash in prescription drugs that fuel the crisis. But while the human toll of this tragedy has become all too clear, the fight to hold accountable those responsible for exacerbating the crisis continues. Nowhere will this be more apparent or urgent than at San Francisco-based McKesson’s annual meeting Wednesday.

    At the crossroads of our nation’s drug pipeline are America’s three largest drug distributors — McKesson, AmerisourceBergen and Cardinal Health — which have played an outsized role in fueling the flow of opioids into our communities. McKesson, the largest of the “Big Three,” supplied 5 million doses of prescription opioids over two years to a town in West Virginia with a population of 400, according to a letter released by a congressional committee investigating opioid abuse. That is more than 12,000 doses for every man, woman and child.
    Over the past year and a half, the International Brotherhood of Teamsters has led a growing shareholder movement to bring real reforms and accountability from within at the Big Three distributors. As a long-term investor in these companies, we’ve helped to transform the proxy ballot into an agent of change.
    https://www.sfchronicle.com/opinion/...r-13100763.php
    Last edited by ABFwife; 07-25-2018 at 08:53 AM.

  6. #26
    Taking A Stand!!!

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    Default Re: Teamsters demand McKesson CEO return millions of dollars for role in opioid crisi

    Should Pharma Execs Pay for the Opioid Crisis?
    Cardinal Health’s shareholders — or at least some of them — want the pharmaceutical distributor’s executives to be held accountable for legal and compliance risks.

    Through a shareholder proposal, which was taken up for a vote earlier this month, investors faced the question of whether they should adopt a policy that would “not exclude legal and compliance costs for purposes of determining executive compensation” in the payments, which ranged from around $3 million to $13 million last year.

    The vote failed, with roughly 17% of shareholders in favor of the measure. However, shareholder advocacy nonprofit As You Sow’s program manager, Rosanna Landis Weaver, points out, “this is a reasonably good showing for a first-time proposal.”

    The proposal is opening up questions about how executives should be incentivized — and held accountable when the company comes under fire.

    “The only way to effect change in a major corporation is to affect their bottom line,” International Brotherhood of Teamsters general secretary Ken Hall tells Agenda. The proposal was co-filed by the union and Rhode Island state treasurer Seth Magaziner on behalf of the state employees’ retirement system.
    https://teamster.org/news/2018/11/sh...-opioid-crisis

  7. #27
    Taking A Stand!!!

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    Default Re: Teamsters demand McKesson CEO return millions of dollars for role in opioid crisi

    Nuns, Teamsters, Philadelphia City Government and Vanguard All Pressure AmerisourceBergen on Opioids
    CEO Steve Collis received a $1.6 million pay increase last year, earning $11.5 million in 2018.

    But if the city of Philadelphia gets its way at the company’s annual meeting Thursday, Collis’ paycheck would be calculated differently going forward: His pay would be cut if the Chesterbrook-based drug distributor paid out large sums to settle lawsuits about the opioid epidemic.

    “We believe senior executives should not be insulated from legal risks,” the city’s pension board said in a shareholder proposal to the company, especially “given the potential reputational, legal and regulatory risks [AmerisourceBergen] faces over its role in the nation’s opioid epidemic.” The firm has asked stockholders to vote against the proposal.

    That measure will come up for a vote Thursday, as company executives and investors convene at Center City’s Sofitel Philadelphia hotel. It’s a reflection of the shareholder rpressure around opioids that’s been building in AmerisourceBergen’s own backyard -- where a proposal backed by local nuns picked up support from the likes of asset managers Vanguard and Charles Schwab. And the Teamsters and the state treasurer’s office successfully advocated for the company to split its CEO and board chair positions, which they argued would improve governance.

    “I am encouraged that we are seeing acknowledgement from the industry that changes need to be made to save lives," state treasurer Joe Torsella said in a statement. The treasurer’s office also supports the city’s proposal on legal costs affecting executive compensation.
    https://teamster.org/news/2019/02/nu...risourcebergen

  8. Likes fxstc07, 222lifer Liked this post
  9. #28
    Retired !

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    Default Re: Opiod Crisis and The IBT Fight

    This shows part of the problem with the opioids. The manufacturers and distributors quest for profits.
    Now it seems a little late after thousands have died or became addicted to the legal drug they pushed.

    Insys Files For Chapter 11, Days After Landmark Opioid Settlement Of $225 Million
    Opioid manufacturer Insys Therapeutics has filed for Chapter 11 bankruptcy protection, just five days after agreeing to pay $225 million to settle the federal government's criminal and civil cases against the company for bribing doctors to prescribe its fentanyl-based painkiller.
    In documents filed Monday, Insys asked the court to allow it to sell its assets to pay more than $250 million in debts. But the move also means the government may not collect all the settlement money it is due.
    It is the first time a drugmaker has sought bankruptcy protection due to legal action related to the opioid crisis. Under Chapter 11 protection, the company will be able to keep operating — paying employees and vendors — as they devise a plan to pay mounting legal expenses, including more than $11 million spent to defend Kapoor against criminal charges by the government, according to court papers.
    The bankruptcy filing also comes on the heels of a guilty plea by Insys last week to five counts of mail fraud and the admission that it bribed doctors to boost sales of the powerful and highly addictive opioid, Subsys.
    https://www.npr.org/2019/06/10/73136...of-225-million

  10. Likes ABFwife, 222lifer Liked this post
  11. #29
    Taking A Stand!!!

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    Default Re: Opiod Crisis and The IBT Fight

    I don't care what it is, drug companies and doctors are pushing drugs big time now. Lately I have been watching some of the tv channels that show the old shows from my childhood. Just about every commercial is a drug commercial. Drives me nuts. Then when you go to the Dr. they want to put you on all these drugs. So recently a Dr. tried to put my husband on Statin drugs as a preventative. I was given a COPD inhaler for my asthma that made me cough nonstop for days after one use. My brother recently told me his doctor was trying to give him all sorts of drugs and he told them NO. Even my daughter's doctor tried to prescribe her prenatal vitamins when she has no intention of getting pregnant anytime soon. What gives????

  12. Likes 222lifer Liked this post
  13. #30
    Retired !

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    Default Re: Opiod Crisis and The IBT Fight

    A background story on the opioid epidemic and those that have profited billions from the sale of those products.

    How an American billionaire predicted — and then profited from — the U.S. opioid epidemic
    The opioid crisis has ravaged through the U.S., taking hundreds of thousands of lives and costing the country an estimated $37 billion.
    Nearly 400,000 people died from an opioid overdose between 1999 and 2017, according to the Centers for Disease Control (CDC), and the number of overdose deaths tied to opioids was six times higher in 2017 than it was eight years prior. An average of 130 Americans died every day of an opioid overdose in 2017, according to CDC data.
    Much of the blame has been placed on pharmaceutical giants for aggressive marketing of prescription opioids and the FDA for lack of regulation. And certain companies made big money off the opioid boom — perhaps most notably OxyContin-maker Purdue Pharma.
    Dr. Richard Sackler, Raymond’s son and a Purdue Pharma board member, told a 1996 OxyContin launch party to “imagine a series of natural disasters: an earthquake, a volcanic eruption, a hurricane, and a blizzard,” according to the New York State Attorney’s lawsuit against Purdue Pharma.

    “He said: ‘the launch of OxyContin Tablets will be followed by a blizzard of prescriptions that will bury the competition. The prescription blizzard will be so deep, dense, and white…’”
    https://finance.yahoo.com/news/opioi...l&uh_test=1_06

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