Arizona Attorney General Kris Mayes announced the finalization of a $50 billion national opioid settlement against drug companies Teva and Allergan and pharmacies CVS and Walgreens.
Arizona will receive $380 million in compensation over 15 years. Approximately $213 million will go toward local governments, and the remaining $167 million will be allocated to state-level efforts.
“These agreements mark a significant step forward in Arizona’s efforts to combat the devastating effects of the opioid crisis on individuals, families, and communities across our state,” Mayes said on June 9. “While no amount of money can fully make up for the disastrous impact opioids have had on Arizonans, these dollars will play a crucial role in helping communities meet the needs of those suffering from this crisis.”
Each company is expected to pay billions over the course of the next two decades.
Walgreens will pay up to $5.52 billion over 15 years, with $123.3 million for Arizona. CVS will pay $4.9 billion over 10 years, with $113.3 million for Arizona. Teva agreed to pay up to $3.34 billion over 13 years, with $92.9 million going to Arizona. Allergan will pay $2.02 billion over seven years, with $51.2 million going to Arizona.
In addition to significant financial compensation, each company is required to follow additional regulations.
Walgreens and CVS must establish independent compliance departments, which will establish data resources and prevention programs to states about red flag processes.
Teva and Allergan are prohibited from the promotion and lobbying of opioids. Employees cannot be rewarded or punished for volume of sales. Both parties must fully disclose documents relating to their role within the opioid crisis.
In addition, Allergan is prohibited from manufacturing and selling opioids for the next 10 years.
Republished with the permission of The Center Square.
