Florida will receive up to $440 million from CVS, with a portion of the funds being sent directly to Florida’s cities and counties. All these proceeds must be spent on opioid abatement, including prevention efforts, treatment or recovery services. The Florida Attorney General negotiated an allocation with these localities that ensures settlement proceeds will be spent on curbing the opioid epidemic. More than 240 subdivisions agreed to that allocation deal as part of signing onto prior terms. The remainder of the monies in the agreement will go to pay fees and costs incurred by the State of Florida and by the cities and counties.
Florida will receive up to $177,114,999 from Teva, with a portion of the funds being sent directly to Florida’s cities and counties to be used on opioid abatement, including prevention efforts, treatment or recovery services. Additionally, Teva will provide the State of Florida with $84 million worth of the company’s Naloxone Hydrochloride product. Naloxone Hydrochloride is an opioid reversal medication that temporarily reverses the effects of opioids when an overdose occurs. The remainder of the monies in the settlement will go to pay fees and costs incurred by the State of Florida and by the cities and counties.
Florida and its subdivisions will receive up to $122 million from Allergan to be spent on opioid abatement, including prevention efforts, treatment, or recovery services. The remainder of the monies in the settlement will go to pay fees and costs incurred by the State of Florida and by the cities and counties.
Under the finalized Endo settlement, Florida will be paid $65 million, with $55 million going toward opioid abatement. As with previous related settlements, Florida will send a portion of funds to its cities and counties. All 90 litigating cities and counties have signed on to the Endo settlement. An additional 70 non-litigating cities and counties have signed on to the deal, with more expected to join over the next few months to maximize the amounts paid.
The CVS and Endo settlements follow several other, earlier Florida negotiations. In July 2021, the Florida Attorney General announced a multi-billion dollar nationwide settlement with McKesson Corp., Cardinal Health, Inc., AmerisourceBergen Corp., and Johnson & Johnson, Inc. Florida will receive more than $1.6 billion, which must be used for remediation. Florida finalized a settlement with McKinsey & Company for $40 million in February 2021.
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