Nevada Rejects $26B National Opioid Settlement

Nevada Rejects $26B National Opioid Settlement

Introduction

Nevada has rejected the nationwide opioid settlement of $26 billion, which would be paid by the three major pharmaceutical distributors, along with Johnson & Johnson (J&J).

Many states have agreed with the $26 billion agreement, but some states, including Nevada, Alabama, New Mexico, Oklahoma, Washington and West Virginia, rejected the proposal and would seek separate compensation.

Attorney General Aaron Ford said that as per the agreement, Nevada would have received $282 million over the next 18 years as compensation for the opioid crisis in the state. He further added that the compensation is inadequate and also provided data stating that Nevada witnessed a 40% increase in opioid deaths in 2020 as compared to 2019.

Ford said that Nevada is the hardest-hit state in the U.S. because of the opioid crisis, and he will make sure to get proper compensation for the epidemic. The rejection of the deal is supported by the Clark, Douglas, Humboldt, Mineral and Washoe counties, along with North Las Vegas, Sparks and West Wendover cities of Nevada.

The states still have a period of one month to sign the month, whereas the local governments have five months to accept the proposal. Forty-four states have participated in the agreement, which is a wonderful support to the deal as per the companies.

J&J will pay $5 billion, and the distributors, namely McKesson Corp., AmerisourceBergen Corp. and Cardinal Health Inc., will pay $21 billion of the settlement.