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Opioid Settlement: Texas Attorney General Secures $300 Million with CVS

The Office of the Attorney General (OAG) has successfully reached a $5 billion multistate Opioid settlement with CVS, holding the company accountable for its role in the nationwide opioid epidemic. (Photo: Southeast Texas Record)
The Office of the Attorney General (OAG) has successfully reached a $5 billion multistate Opioid settlement with CVS, holding the company accountable for its role in the nationwide opioid epidemic. (Photo: Southeast Texas Record)

The Office of the Attorney General (OAG) has successfully reached a $5 billion multistate Opioid settlement with CVS, holding the company accountable for its role in the nationwide opioid epidemic.

The Opioid settlement with CVS was achieved through collaboration between the State, the Texas Political Subdivisions, and various city and county governments involved in the Texas Opioids Multidistrict Litigation. (Photo: Fierce Wireless)

The Opioid settlement with CVS was achieved through collaboration between the State, the Texas Political Subdivisions, and various city and county governments involved in the Texas Opioids Multidistrict Litigation. (Photo: Fierce Wireless)

Opioid Settlement with CVS

This Opioid settlement addresses CVS’s failure to adequately monitor opioid prescriptions, contributing to the escalating crisis of fatal abuse of addictive prescription narcotics.

According to the press release of the Texas Attorney General, as part of the Opioid settlement, Texas has been designated over $300 million to address the consequences of this epidemic within the state.

The Opioid settlement with CVS was achieved through collaboration between the State, the Texas Political Subdivisions, and various city and county governments involved in the Texas Opioids Multidistrict Litigation.

Parties from Texas had the option to join either the larger CVS Master Global Settlement Agreement or the Texas Settlement with CVS, ensuring comprehensive coverage and accountability.

In an effort to maximize the impact of this Opioid settlement, the OAG is encouraging additional Political Subdivisions within Texas to sign on and participate in the agreements.

Cities and counties that choose to sign on will not only be eligible for direct payments but also have the opportunity to receive grant money from the Texas Opioid Council for opioid abatement funding.

READ ALSO: IRS Issues Warning: New Unclaimed Refund Scam Targets Taxpayers Via Mail

Opioid Settlement Process

To facilitate the process, the OAG has created an opioid settlement webpage where Texas cities and counties can find more information on how to sign on to the state’s settlements with various pharmaceutical companies, including Allergan, CVS, Walgreens, Walmart, Teva, Endo, and Johnson & Johnson. Additionally, information regarding the settlement with distributors AmerisourceBergen, Cardinal Health, and McKesson is available on the webpage.

Interested parties are encouraged to visit the OAG’s website to access the necessary resources.

This recent announcement follows another significant victory in Texas’s ongoing efforts to hold companies accountable for their actions that exacerbated the deadly opioid epidemic.

Under the terms of the Opioid settlement, CVS will make payments to Texas taxpayers and government entities over a ten-year period. The deadline for all Texas Political Subdivisions to sign onto the Opioid settlement and receive its benefits is July 31.

The OAG initially announced the Opioid settlement in principle back in November 2022, and now it is urging all relevant parties to take advantage of this opportunity to address the opioid crisis and support affected communities in Texas.

READ ALSO: Claim Your Unclaimed 2019 Tax Refunds Before The Deadline: Here’s How!

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