Nevada To Rejoin $26B Multi-state Opioid Settlement

Nevada To Rejoin $26B Multi-state Opioid Settlement

Introduction

Nevada has reversed the course and decided to rejoin the $26 billion multi-state opioid settlement, which was earlier rejected, cited as insufficient to deal with the crisis.

Attorney General Aaron Ford of Nevada indicated that he will make sure that every company that sold the drug in the state for profits and fueled the opioid crisis will be made to pay the penalty and face the consequences.

As per the agreement, Johnson and Johnson (J&J), along with the three major drug distributors, have promised to pay $26 billion to compensate for the opioid crisis caused across the nation. Some states agreed with the settlement, whereas some denied it by reasoning that the amount is insufficient, and Nevada was one of them, as it rejected the offer earlier in July. Along with Nevada, New Mexico has also decided to rejoin the settlement.

The state's share in the multi-state settlement is $231.7 million, which will be paid over 17 years, and the initial payments of the same are slotted to be released in April and July. Nevada will also receive $53.5 million from Johnson & Johnson and its Janssen Pharmaceuticals subsidiary as a part of the separate settlement.

As per the reports, Nevada reported 1300 deaths from opioids from January 2019 to October 2021, and the settlement is the justification for the state to deal with the opioid crisis.