Florida inks $878M opioid settlement

April 1, 2022

Florida has reached an $878 million settlement with almost all the defendants in the state’s opioid case.

The state’s attorney general, Ashley Moody, announced Florida had reached settlements with CVS Health Corporation, CVS Pharmacy, Teva Pharmaceuticals, Allergan and Endo International. The biggest chunk of the settlement comes from CVS, who will pay $484 million. Teva settled for $195 million, including agreeing to provide $84 million worth of the company’s generic Narcan spray to the state. For their parts, Allergan and Endo will pay $134 million and $65 million respectively. 

“Since my first day in office, I have worked tirelessly to hold accountable those companies who helped start this crisis,” said Moody. “The monies secured from CVS, Teva, Allergan and Endo will help further our efforts to remediate the harm and suffering of Floridians.”

One defendant, Walgreens, has yet to reach a settlement with Florida. Walgreens and the state of Florida will head to trial on April 11, when the state will try Walgreens for its accountability and role in helping create and fuel the deadly opioid crisis in Florida.

CVS said it expects to pay its portion of the settlement over the next 18 years. Allergan will pay over the next 10 years.

This deal comes soon after Teva reached a $100 million settlement with Rhode Island. The state’s attorney general, Peter Neronha, said it also reached a settlement with Allergan at the same time worth $107 million.

Earlier this year, the state of Texas reached a $225 million settlement with Teva over its role in the opioid crisis. The generics giant later announced it expected to pay over $3.6 billion over the next 15 years to settle opioid lawsuits.