Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Business Law
    • Commercial Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • Coronavirus 2020
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Diversity Leadership Series
    • Vote Now for Women in Leadership
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read the issue
    • Order a copy
    • Buy an award plaque
    • Nominate execs for 2021

Advertisement

Header Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Home News Industries Government Virginia could receive $530M from $26B opioids settlement

Virginia could receive $530M from $26B opioids settlement

Deal with drug distributors, Johnson & Johnson announced by states attorneys general

Published July 21, 2021 by Katherine Schulte

Virginia is expected to receive about $530 million as part of a $26 billion settlement that the nation’s three primary drug distributors and pharmaceutical manufacturer Johnson & Johnson reached Wednesday with the states that would release the companies from legal liability in the opioid crisis.

A majority of the roughly $530 million that Virginia is expected to receive will go to the state’s Opioid Abatement Authority, according to a news release from Virginia Attorney General Mark Herring. Created by the Virginia General Assembly this year, the authority will provide grants and loans to state agencies and localities to treat, prevent and reduce opioids abuse.

The deal was announced Wednesday by a bipartisan group of attorneys general from Connecticut, Delaware, Louisiana, North Carolina, New York, Pennsylvania and Tennessee.

McKesson Corp., AmeriSourceBergen and Cardinal would pay up to $21 billion over 18 years to participating states and localities, including Virginia, which is expected to receive up to $427 million from the drug distributors. The three distributors would also establish an independent clearinghouse to track and monitor the number of opioids that distributors send to health care providers and localities.

Additionally, Johnson & Johnson would pay up to $5 billion over nine years, paying up to $3.7 billion in the first three years. Virginia is expected to receive up to about $100 million from Johnson & Johnson, according to the attorney general’s release.

“The roots of the opioid crisis began in the marketing offices and board rooms of pharmaceutical companies like Johnson & Johnson and ran straight into the homes and medicine cabinets of Virginians. Distributors like McKesson, AmerisourceBergen, and Cardinal spread billions of doses of highly addictive opioids throughout our communities, helping to fuel a crisis that has killed hundreds of thousands of Americans and upended the lives of Virginians in every corner of our commonwealth,” Herring said in a statement.

States have 30 days to review the deal. If participating state and city governments accept the offer, the companies will release the funds and the governments would drop any lawsuits against the companies and pledge not to bring future action, The New York Times reported Wednesday.

 

Subscribe to Virginia Business. Get our daily e-newsletter.

Related Stories

Dr. Eric Edwards

Trump administration chooses RVA pharma startup for $354M COVID-19 contract

Phlow Corp. will create domestic supply chain for coronavirus drugs

Va. Democratic primary concludes Tuesday

McAuliffe, Herring hold substantial leads in new Roanoke College poll

Virginia Business logo

Delegate tries again to advance paid sick leave bill

Del. Elizabeth Guzman's bill would require employers to grant one hour of paid sick leave for every 30 hours worked

Trending

Finance/Insurance: STEPHAN Q. CASSADAY

Finance/Insurance: PAUL B. MANNING

Federal Contractors/Technology: JASON PROVIDAKES

Education: ANNE M. KRESS

Artemis I to launch with help from Va. contractors

Sponsored Stories

Why is my Less Than Truckload (LTL) freight pricing going up and my service level going down?  

Beyond Juneteenth – How Capital One is Commemorating and Implementing Change

How We Help Your Business Operate Better

Before the Breach: Get Serious About Cyber Resilience

Professionals are Discovering What it Means to Live Uniquely in the Alleghany Highlands of Virginia

Riverside Logistics Celebrates 25th Anniversary!

Girls for a Change Empowers Black Youth for the Future Workforce

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

Advertisement

Advertisement

Trending

Finance/Insurance: STEPHAN Q. CASSADAY

Finance/Insurance: PAUL B. MANNING

Federal Contractors/Technology: JASON PROVIDAKES

Education: ANNE M. KRESS

Artemis I to launch with help from Va. contractors

Sponsored Stories

Why is my Less Than Truckload (LTL) freight pricing going up and my service level going down?  

Beyond Juneteenth – How Capital One is Commemorating and Implementing Change

How We Help Your Business Operate Better

Before the Breach: Get Serious About Cyber Resilience

Professionals are Discovering What it Means to Live Uniquely in the Alleghany Highlands of Virginia

Riverside Logistics Celebrates 25th Anniversary!

Girls for a Change Empowers Black Youth for the Future Workforce

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk