Nevada To Rejoin $26B Multi-state Opioid Settlement
Thu, 03/03/2022 - 15:14
Nevada has reversed the course and decided to rejoin the $26 billion multi-state opioid settlement, which was earlier rejected, cited as insufficient to deal with the crisis.
Attorney General Aaron Ford of Nevada indicated that he will make sure that every company that sold the drug in the state for profits and fueled the opioid crisis will be made to pay the penalty and face the consequences.
As per the agreement, Johnson and Johnson (J&J), along with the three major drug distributors, have promised to pay $26 billion to compensate for the opioid crisis caused across the nation. Some states agreed with the settlement, whereas some denied it by reasoning that the amount is insufficient, and Nevada was one of them, as it rejected the offer earlier in July. Along with Nevada, New Mexico has also decided to rejoin the settlement.
The state's share in the multi-state settlement is $231.7 million, which will be paid over 17 years, and the initial payments of the same are slotted to be released in April and July. Nevada will also receive $53.5 million from Johnson & Johnson and its Janssen Pharmaceuticals subsidiary as a part of the separate settlement.
As per the reports, Nevada reported 1300 deaths from opioids from January 2019 to October 2021, and the settlement is the justification for the state to deal with the opioid crisis.
Colorado To Get $385 Million From National Opioid Suit
Thu, 03/03/2022 - 14:31
The Colorado Attorney General's Office informed that Colorado will soon receive around $385 million from the three major drug distribution companies of the United States and Johnson & Johnson (J&J) as part of the nationwide opioid settlement.
The sum will be a part of the $26 billion nationwide opioid settlement. Every municipality and county in Colorado has agreed to the settlement and plan that provides the fund distribution.
The fast-paced processing of the approvals of the settlement from the local governments of Colorado depicts the seriousness and collaborative commitment to combat the opioid epidemic.
Centers for Disease Control and Prevention provided data that from 2000 to 2020 more than 7,600 Coloradans died from opioid overdoses and much more are still suffering from addiction. The data even reveals that the death toll from overdoses will outdo the last year's tally considering the growing outrage of opioids.
The maximum portion of the settlement amount will be used to conduct drug treatment programs, recovery prevention, education and harm reduction programs. As per the distribution agreement, the drug distributors will pay the settlement amount over 18 years, and J&J will pay over the schedule of nine years.
The state has even received roughly $8.2 million from a nearly $10 million settlement against McKinsey & Co. over the allegations that the company fueled the opioid epidemic for making profits. On the other hand, J&J has stated that it has discontinued the sale of opioid medications.
10 More Counties Sign On $26 Billion Global Opioid Settlement
Thu, 03/03/2022 - 13:51
The total count of the Pennsylvania counties joining the historic national opioid settlement has figured to be 60 out of the 67 counties across the Commonwealth after ten additional counties signed the agreement.
Blair, Centre, Crawford, Cumberland, Lycoming, Northampton, Northumberland, Pike, Somerset, and Sullivan are the additional ten counties that have recently signed the settlement.
Attorney General Josh Shapiro, who announced the news, urged the remaining local governments to sign the agreement, as it will provide the communities with the ability and resources to deal with the opioid crisis. The settlement will offer millions of dollars in resources to the counties and states across the United States to combat the opioid epidemic.
Opioid maker Johnson & Johnson (J&J), along with three major pharmaceutical distributors, Cardinal, McKesson, and AmerisourceBergen, are the defendants that will pay the $26 billion global settlement announced in July. The last date for the local governments to sign the agreement was January 2, which is now revised to January 26.
The settlement will provide sufficient compensation to the families and communities affected due to the opioid crisis. It will even help the governments to provide further opioid mishaps in the counties by promoting awareness and prevention programmes.
Earlier, Teva Pharmaceuticals has been held responsible for oversupplying opioids in Suffolk and Nassau counties and creating a public nuisance. A New York jury in Suffolk County State Supreme Court has announced the ruling and is yet to provide an accurate penalty amount.