WASHINGTON, DC (March 8, 2023) – Venable LLP is pleased to announce that partner Michael J. Bresnick has been selected to serve as independent compliance monitor to oversee the injunctive relief provisions of the national settlement agreement entered into by the nation’s three largest pharmaceutical distributors -- McKesson Corp., AmerisourceBergen Corp., and Cardinal Health, Inc. The settlement resolved all opioid claims made against these distributors by 48 states, the District of Columbia, 5 U.S. territories, and the vast majority of political subdivisions.
The National Opioid Settlement requires the distributors to comply with certain standards and practices governing Controlled Substance Monitoring Programs, suspicious order monitoring, identification of red flags, and setting of thresholds, among other things. As monitor, Mr. Bresnick will help ensure each of the distributors complies with these injunctive relief terms and will report his findings to a committee of settling states annually for five years.
“I am honored by this appointment and look forward to working with the distributors and the states to ensure compliance with the injunctive relief terms of the settlement agreement,” said Mr. Bresnick.
Mr. Bresnick was previously selected to serve as independent monitor of Deutsche Bank AG following its $7.2B settlement with the U.S. Department of Justice (DOJ) and a related settlement with the Office of the Maryland Attorney General. Before coming to Venable, he spent 10 years as a prosecutor in various positions in the DOJ, including as an assistant U.S. attorney, a supervisor in the Criminal Division’s Fraud Section, and executive director of the interagency Financial Fraud Enforcement Task Force.
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