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Compounding pharmacy in $100 million settlement

The owners of New England Compounding Pharmacy Inc., the drug supplier blamed for a nationwide meningitis outbreak that killed 64, agreed to a settlement providing $100 million toward compensation for victims.

By Karen Gullo | Updated on May 07, 2014
May 7 (Bloomberg) — The owners of New England Compounding Pharmacy Inc., the drug supplier blamed for a nationwide meningitis outbreak that killed 64, agreed to a settlement providing $100 million toward compensation for victims.

The settlement, which includes money from insurers, will be implemented as part of a Chapter 11 plan, according to a filing by a trustee seeking approval of the accord in U.S. Bankruptcy Court in Boston. Criminal investigations involving company insiders, 322 lawsuits against the pharmacy and 3,300 claims from injury are continuing, according to the filing.

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