RICHMOND, Va. (WRIC) — Virginia is set to receive approximately $365.6 million in compensation following opioid agreements made with Teva, Allergen, CVS and Walgreens.
Attorney General Jason Miyares made an announcement on Friday, June 9, that $17.3 billion in opioid agreements had reached final approval.
“This milestone settlement with two major drug makers and two major pharmacies has been a long time coming,” Miyares said. “I look forward to seeing the positive impacts on our communities and lives this money will have across Virginia.”
The $365.6 million will start being distributed to state and local governments by the end of 2023.
According to the statement from Miyares’ office, the settlement includes additional injunctive relief — requirements that each company must follow. Teva’s opioid business will be prevented from marketing opioids in the future and must take action to prevent drug misuse. Allergan is required to stop selling opioids for 10 years. CVS and Walgreens are required to monitor, report and share data about suspicious activity concerning opioid prescriptions.
A final agreement with Walmart has not yet been announced as there is a different process to finalizing that settlement. An update is expected 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,” the statement from Miyares’ office reads. “There are more settlements still pending.”
