Payments from five companies participating in the national opioid settlement were deposited into local government accounts this week. According to settlement administrator BrownGreer, participating counties and city governments can expect to see funds from Allergan, CVS, Teva, Walgreens and Walmart in their National Opioid Settlement online portal.
These latest payments total roughly $37 million for Kentucky counties and cities. An additional $42.7 million was distributed to the state. Click here for a breakdown of specific payments to your local government.
Accounting and use of funds
KACo recommends that these funds be placed in a separate special account/fund.
According to the terms of the settlement and KRS 15.291 and 15.293, settlement funds may only be used for specific purposes related to opioid abatement.
Opioid settlement background
Kentucky has agreed to participate in seven national settlements related to the opioid crisis:
- Distributors (AmericsourceBergen/Cencora, Cardinal Health, McKesson) | $21 billion paid over 18 years
- Johnson & Johnson | $5 billion paid over nine years
- CVS | $4.9 billion paid over 10 years
- Walgreens | $5.52 billion paid over 15 years
- Walmart | $3.1 billion
- Allergan | $2 billion paid over 7 years
- Teva | $3.34 billion over 13 years
For more information and resources, check out KACo’s Opioid Settlement Resource Library
Questions?
Please reach out to KACo Opioid Settlement Advisor, Lauren Carr – lauren.carr@kaco.org.