Ashley Moody Announces $860 Million Secured From CVS, Teva, Allergan and Endo for Opioid Abatement

On Wednesday, Florida Attorney General Ashley Moody announced the securement of $860 million for opioid abatement from CVS Health Corporation, CVS Pharmacy, Inc., Teva Pharmaceuticals Industries Ltd. and Allergan PLC.

CVS will now pay $484 million to the state of Florida, Teva will pay nearly $195 million, and Allergan will pay more than $134 million to resolve claims relating to the companies’ role in the opioid epidemic. Teva will also provide $84 million worth of its generic NARCAN nasal spray to the State. Additionally, Moody announced that the Endo Health Solutions settlement is now finalized, with every litigating city and county in Florida—more than 90 in total—participating.

“The opioid epidemic is wreaking havoc on Florida families. Since my first day in office, I have worked tirelessly to hold accountable those companies who helped start this crisis—with today’s announcements we have now secured an additional $860 million to help mitigate the harm caused to Florida’s communities. The monies secured from CVS, Teva, Allergan and Endo will help further our efforts to remediate the harm and suffering of Floridians,” Moody said.

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. Moody 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 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 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 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 and by the cities and counties.

Under the newly 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,Moody announced a $26 billion 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.

The Office of the Attorney General has set up an online portal for local governments to sign on to the various opioid-related settlements.

The remaining defendant, Walgreens Co., is set for a jury trial in New Port Richey beginning on April 5, with jury selection in front of Judge Kimberly Sharpe Byrd. Opening statements are likely to occur on or about April 8.

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