AUSTIN – Attorney General Paxton announced plans to enter into a $5.034 billion multistate settlement with CVS Pharmacy for its alleged role in the nationwide opioid epidemic, with over $276 million designated for Texas, a press release states.
The agreement will largely track the terms of the Global Prescription Opioid Litigation Settlement Agreement with opioid distributors that was executed in July 2021.
“Millions of Americans have died or are sick due to the opioid epidemic. While significant work remains, a broad coalition of states reached certain terms with CVS, and we are hopeful that we will be able to reach a final agreement on all terms,” Paxton said. “Pharmaceutical companies that have been at the root of the problem must be involved in not only changing their business practices to keep this tragic epidemic from taking more lives in the future, but also by providing treatment for those currently still struggling with opioid addiction.”
This agreement is the latest opioid settlement Paxton has negotiated for Texas. With the addition of the CVS funds, Paxton will have secured over $2.37 billion for Texas from the distributors, Allergan, Mallinckrodt, Teva, Endo, Johnson & Johnson, and McKinsey & Company.
Paxton worked closely on these negotiations with the Attorneys General of California, Colorado, Connecticut, Delaware, Georgia, Louisiana, Massachusetts, New York, North Carolina, Ohio, Pennsylvania, and Tennessee.