Title
Approving a resolution regarding joining opioid settlements with Allergan, CVS, Walgreens, and Walmart.
Summary
The proposed Settlements require Allergan to pay $135 million, CVS to pay $304 million, Walgreens to pay $340 million, and Walmart to pay $170 million (the “Settlement Amount”) to Texas and its political subdivisions. Of the Settlement Amount, the vast majority is earmarked for use by Texas and its subdivisions to remediate and abate the impacts of the opioid crisis. The Settlements also contain injunctive relief provisions governing the opioid marketing as well as the sale and dispensing practices at the heart of the opioid claims in the lawsuits.
The subdivisions within Texas are entitled to decide whether they wish to participate in the settlement. Any subdivision that does not participate cannot directly share in any of the settlement funds.
Detailed information about the Settlements may be found at the website set up by Office of the Attorney General of Texas: https://www.texasattorneygeneral.gov/globalopioidsettlement.
Prior City Council Action
City Council approved Resolution 1908-21-09-14-0916 on September 14, 2021 adopting the Texas Term Sheet and joining the Distributors and J&J settlements.
City Council approved Resolution 1953-22-03-08-0970 on March 8, 2022 joining the Teva and Endo settlements.
Deadline for City Council Action
Deadline to submit is April 18, 2023.
Funding Expected: Revenue _X_ Expenditure __ N/A __
Budgeted Item: Yes __ No _X_ N/A __
Amount: ________
1295 Form Required? Yes __ No _X_
Legal Review Required: N/A __ Required _X_ Date Completed: ___________
Supporting documents attached:
Opioid Resolution
Settlement_Participation_Form_Allergen
Settlement_Participation_Form_CVS
Settlement_Participation_Form_Walgreens
Settlement_Participation_Form_Walmart
Recommended Action
Approve the resolution joining opioid settlements with Allergan, CVS, Walgreens, and Walmart.