Las Vegas, NV (KXNT) - Nevada Attorney General Aaron Ford announced Tuesday that Nevada has reached a settlement with CVS Pharmacy, Inc. regarding the company’s role in the opioid epidemic.
The settlement will bring just shy of of $152M in abatement money to Nevada. With this settlement, AG Ford has brought in a total gross amount of $606 million in opioid litigation-related monies to Nevada.
“My office will never stop fighting to hold accountable those companies and organizations that contributed to the crisis of the opioid epidemic,” said Ford. “The resources and funds that come to the state through our settlements will provide substantial help for Nevadans. I will work to do whatever I can to bolster the support we can offer the residents of our great state.”
The state will receive $66,605,257.51, which will be placed in the Fund for Resilient Nevada, and the signatories of the One Nevada Agreement will receive $80,984,763.40, which will be used for abatement in their jurisdictions.
Last year, the state, along with all Nevada counties and cities that currently have active litigation against opioid companies, came to an agreement on the intrastate allocation of funds from opioid-related recoveries. This One Nevada Agreement on Allocation of Opioid Recoveries provides a framework for how funds from any Nevada opioid-related settlement will be fairly and equitably allocated among the state and various local governmental entities and used to remediate the harms, impact and risks caused by the opioid epidemic in the state.
It wasn’t specified how much each county will receive
In addition to the monetary relief, the settlement requires CVS to develop a Controlled Substance Dispensing Oversight Program, which includes a list of red flags for patients, prescriptions, and prescribers, that the program will maintain to stop possible misuse of opioids and the furtherance of the opioid epidemic.