Opioid Settlement Impact to Nebraska
The Attorney General yesterday announced two opioid settlements one with the nation's three major pharmaceutical distributors - AmerisourceBergen, Cardinal, and McKesson, and another settlement with Johnson & Johnson. The combined aggregate amount of the distributor and Johnson & Johnson settlements is approximately $26 Billion, inclusive of associated costs, fees, and expenses. These settlements are in addition to a completed settlement with McKinsey announced earlier this year and an anticipated settlement with Purdue Pharma. The terms of each agreement vary with each defendant both in terms of monetary settlement amounts, the length of time each settlement will be paid to the respective states, and political subdivisions and injunctive relief. Acknowledging that the amount received by the state of Nebraska and its political subdivisions may vary and will be determined each year, the Attorney General's Office approximates the total aggregate monetary payment to the state of Nebraska and its political subdivisions to be in the range of $100 million over the course of the settlement period - 18 years. According to state statute, the Nebraska Opioid Prevention and Treatment Act, the percentage dedicated to the state under any settlement with an opioid-related defendant is to be deposited in the state's Opioid Recovery Fund for purposes in accordance with the Act and the terms of each settlement. Both the announced settlements and the Act direct state funds are used for treatment and prevention of opioid-related harms.