Tennessee to receive $419 million in latest opioid settlement

Attorney General Jonathan Skrmetti has announced Tennessee will receive an expected $419 million as part of a $17.3 billion opioid settlement made with drugmakers Teva and Allergan and pharmacies CVS and Walgreens.  

Following successful state sign-on and subdivision sign-on periods, the defendants have committed to the deal and will start releasing funds to a national administrator later this summer. Money is expected to start flowing to state and local governments by the end of 2023. 

Tennessee will receive $419 million over 15 years. National investigations and litigation against the pharmaceutical industry over the opioid crisis has led to more than $50 billion; Tennessee’s share exceeds $1 billion. The funds are being distributed through the state’s opioid abatement council.  

In addition to providing funds, the companies will have to follow additional conditions set forth by the settlement. Teva’s opioid business will also have to prevent all opioid marketing and ensure systems are in place to prevent drug misuse. Allergan is required to stop selling opioids for the next 10 years. 

CVS and Walgreens have agreed to monitor, report, and share data about suspicious activity related to opioid prescriptions.  

Teva and Allergan negotiations were led by Attorneys General from Tennessee, California, Illinois, Iowa, Maryland, Massachusetts, New York, North Carolina, Pennsylvania, Texas, Vermont, Virginia, and Wisconsin. CVS and Walgreens negotiations were led by Attorneys General from Tennessee, California, Colorado, Connecticut, Delaware, Illinois, Indiana, Iowa, Kentucky, Louisiana, Massachusetts, Nebraska, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, and Texas