Article Presented By Pickaway Ross CTC…
(Columbus) — Ohio Attorney General Dave Yost and 21 other attorneys general have secured final approval of a combined $17.3 billion settlement that will hold drug makers Teva and Allergan and pharmacies CVS and Walgreens accountable for their role in the opioid-addiction crisis and help pay for ongoing recovery efforts.
Ohio is expected to receive $679.6 million over 15 years.
“Too many companies chose not to recognize and take action to prevent the burgeoning opioid crisis that now continues to plague our streets,” Yost said. “We, and they, have a moral obligation to help not hinder those that need assistance and this money will be used statewide for just that – recovery and relief.”
The settlement money is due to start flowing to the states and local governments by the end of 2023.
As with previous opioids-related settlements, the money will be distributed through the agreed upon OneOhio plan, 55% of Ohio’s portion will go to the OneOhio Recovery Foundation, 30% to local governments and 15% to the state. Ohio’s $679.6 million allotment breaks down this way:
- $156 million over 13 years from Teva
- $93 million over seven years from Allergan
- $206.3 million over 10 years from CVS
- $224.3 million over 15 years from Walgreens.
The final agreement with the attorneys general also will require:
- Teva’s opioid business to prevent all opioid marketing and ensure systems are in place to prevent drug misuse.
- Allergan to stop selling opioids for the next 10 years.
- And CVS and Walgreens pharmacies to monitor, report and share data about suspicious activity related to opioid prescriptions.
This settlement marks the latest in a string of agreements that AG Yost and his staff have brokered to help fund opioid recovery in Ohio. Their previous work includes:
- An $808 million settlement with opioid distributors Cardinal Health, McKesson and AmerisourceBergen.
- A $185 million settlement with Johnson & Johnson and Janssen Pharmaceuticals Inc.
- A $24.7 million settlement with McKinsey & Co.
- A $114 million proposed settlement with Walmart (finalization is anticipated in the coming weeks)
The Teva and Allergan negotiations were led by attorneys general from California, Illinois, Iowa, Maryland, Massachusetts, New York, North Carolina, Pennsylvania, Tennessee, Texas, Vermont, Virginia and Wisconsin.
Ohio helped to lead the negotiations with CVS and Walgreens, along with California, Colorado, Connecticut, Delaware, Illinois, Indiana, Iowa, Kentucky, Louisiana, Massachusetts, Nebraska, New York, North Carolina, Pennsylvania, Rhode Island, Tennessee and Texas.