FRANKFORT, Ky. — Attorney General Daniel Cameron announced a $17.3 billion national settlement with pharmaceutical companies Teva, Allergan, and pharmacies CVS and Walgreens.
“I have repeatedly called the drug epidemic the public health challenge of our lifetime—and I mean it,” said Attorney General Cameron. “While nothing can bring back the lives and livelihoods lost to the opioid epidemic, I hope these settlements will give Kentuckians some relief and help prevent a crisis like this from ever happening again.”
Kentucky will receive more than $317 million over 15 years as part of the agreement. The companies have agreed to start releasing funds to a national administrator later this summer. The money is expected to flow to state and local governments by the end of 2023.
The settlements will also require Teva to institute programs that will, among other things, prevent opioid marketing and ensure systems are in place to prevent opioid misuse. Additionally, Allergan must not sell opioids for the next 10 years. CVS and Walgreens have agreed to monitor, report, and share data about suspicious activity related to opioid prescriptions.
This is Attorney General Cameron’s latest victory in the fight against the opioid epidemic.
Attorney General Cameron has secured over 900 million dollars in settlement funds from pharmacies, distributors, wholesalers, and manufacturers of opioids for their role in fueling the opioid epidemic.
Attorney General Cameron was joined by attorneys general from California, Colorado, Connecticut, Delaware, Illinois, Indiana, Iowa, Louisiana, Maryland, Massachusetts, Nebraska, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, Tennessee, Texas, Vermont, Virginia, and Wisconsin in securing the settlement.
To read a copy of the Teva settlement, click here. To view the Allergan settlement, click here.
To see the CVS settlement, click here. To read a copy of the Walgreens settlement, click here.
