Following Teva, Allergan, CVS, and Walgreens finalized opioid settlement agreements
Attorney General Jason Miyares today announced the final approval of $17.3 billion in opioid agreements with drug makers Teva and Allergan and pharmacies CVS and Walgreens. Virginia will receive up to approximately $365.6 million over 15 years, which is expected to start flowing to the state and local governments by the end of 2023.
“This milestone settlement with two major drug makers and two major pharmacies has been a long time coming,” said Attorney General Miyares. “I look forward to seeing the positive impacts on our communities and lives this money will have across Virginia.”
The settlements will also require Teva’s opioid business to comply with stringent injunctive relief that, among other things, will prevent all opioid marketing and ensure systems are in place to prevent drug misuse.
Additionally, Allergan is required to stop selling opioids for the next 10 years. CVS and Walgreens have agreed to injunctive relief that requires the pharmacies to monitor, report, and share data about suspicious activity related to opioid prescriptions.
This injunctive relief will help ensure a crisis like this does not happen again. A final agreement with Walmart is not being announced today; there are different processes for finalizing that settlement, which is anticipated in the coming weeks.
To date, Virginia’s share of national investigations and litigation against the pharmaceutical industry over the opioid crisis is nearly $1 billion. There are more settlements still pending.
