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Texas AG Announces a $340M Opioid Settlement With Walgreens

Texas Attorney General (AG) Ken Paxton has announced a $340 million opioid settlement with the pharmaceutical chain Walgreens. In its press release, the office of the AG notes that this brings the total settlement amount to $2.91 billion.

According to the settlement agreement, $115,910,675 of the settlement funds will be allocated as part of the base payment, with the final sum dependent on how many of the counties and cities of Texas agree to sign on to the settlement. If less than 85% of the counties sign on to the agreement, then 0% of the payment will be allocated annually. However, as more individuals sign on, the amount of payment allotted increases from 3.57% up to 100% with the unanimous approval of the settlement.

Paxton stated that the health and safety of the people of Texas was a high priority and that “Pharmaceutical companies are being held responsible for the damage caused by the opioid epidemic. Walgreens will help prevent this tragic epidemic from taking more lives in the future, and it will also provide treatment for those still struggling.”

Read more at News.law

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