(CNN) — Five of the many companies accused in thousands of federal and state lawsuits over the nation’s opioid epidemic may settle for over $50 billion, according to a source familiar with the negotiations.
Three pharmaceutical distribution companies — AmerisourceBergen, Cardinal Health, and McKesson Corporation — are in negotiations to settle with over 2,000 state, local and Native American tribal governments over their alleged roles in the nationwide opioid crisis, according to the source.READ MORE: Study Suggests Replacing Michigan's Fuel Tax With Mileage-Based User Fees
The source told CNN Thursday that the companies are proposing to pay a combined $18 billion over 18 years, in addition to Johnson & Johnson, which is in talks to contribute another $4 billion to the settlement.
If an agreement is reached, the source said that the settlement would also involve Teva Pharmaceuticals contributing $15 billion in anti-addiction drugs, plus an additional $14 billion towards the distribution of those drugs. Teva is one of the biggest producers of generic drugs.READ MORE: Wayne County Prosecutor Kym Worthy Seeks Additional Funding To Investigate LGBTQ Hate Crimes
The timing of the negotiations is important, as jury selection in the multi-district litigation case began Wednesday in the Northern District of Ohio and the trial is set to begin next Monday.
Purdue Pharma previously reached a proposed settlement agreement in the litigation.
The New York Times first reported news of a nearly $50 billion settlement.MORE NEWS: First Monkeypox Case Confirmed In Michigan: How To Keep Your Family Safe
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