NASHVILLE — Tennessee is expected to reap a $419 million bonanza as its share of a $17.3 billion multistate settlement with opioid manufacturers Teva and Allergan as well as pharmacies CVS and Walgreens, state Attorney General Jonathan Skrmetti said.
The money will go toward battling the opioid crisis, Skrmetti said in a news release last week that states the defendants have “committed to the deal” as have state attorneys general.
Money is expected to begin flowing to state and local governments by the end of 2023, with payments coming over a 15-year period.
Multiple national investigations and litigation against the pharmaceutical industry over the opioid crisis have led so far to more than $50 billion in settlements to states, Skrmetti said. Tennessee’s share exceeds $1 billion.