April 16, 2024 - Virginia Receives Over $100 Million in Opioid Settlement Funds

Virginia Receives Over $100 Million in Opioid Settlement Funds

~ The approximate total of $108.4 million stems from seven different opioid settlements ~

RICHMOND, Va. - Attorney General Jason Miyares today announced that Virginia has received another round of payments from settlements with opioid manufacturers, major pharmaceutical distributors, and retail pharmacy chains totaling approximately $108.4 million. This includes all of the shares in this round of payments that will be allocated to the Commonwealth of Virginia, the Opioid Abatement Authority, and localities.

"Thanks to the unwavering dedication of my Consumer Protection team, Virginia just received over $100 million in opioid settlement funds that will enable us to more effectively prevent, reduce, and treat addiction at a localized level," said Attorney General Miyares.

The approximate amounts received from each settlement in this round of disbursements:

• Teva: $6.346 million
• Allergan: $7.033 million
• CVS: $7.831 million
• Walgreens: $15.155 million
• Walmart: $61.621 million
• Cencora (formerly AmerisourceBergen): $5.219 million
• Cardinal Health: $5.243 million

Cencora and Cardinal Health, two major pharmaceutical distributors, began sending opioid settlement payments to Virginia in 2022. Additionally, Cencora and Cardinal Health elected to exercise an option in the Distributors settlement that allows them to prepay their settlement installments that are scheduled for 2027 at a discount in 2024.

Drug manufacturers Teva and Allergan, as well as retail pharmacy chains CVS, Walgreens, and Walmart, settled with Virginia in 2023. These are the first payments received from those settlements.

The approximate allocation of funds received:

• Commonwealth of Virginia: $16.992 million
• Opioid Abatement Authority: $59.178 million
• Localities: $32.279 million

The Opioid Abatement Authority is the entity responsible for distributing opioid settlement funds to localities and state agencies on a grant-application basis.

To date, Virginia has secured over $1.1 billion in opioid settlement funds.

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