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Agenda Item
9. Recommendation and possible action to approve the settlement between Teva, Walgreens, and the State of Nevada in the opioid litigation (State of Nevada v. McKesson Corp. et al., Case No. A-19-796755-B (Nev. Dist. Ct., Clark County) and execution by Washoe County of the "Teva Subdivision Participation and Release Form" and the "Walgreens Subdivision Participation and Release Form" pursuant to the One Nevada Agreement on Allocation of Opioid Recoveries ("One Nevada Agreement") previously agreed upon for participation in settlements (entered into on July 27, 2021).
The proposed settlement between Teva and the State of Nevada is in an amount of $193,985,662.29 before attorney's fees and costs are deducted and will be paid in equal installments and will be paid in varying installments as reflected in over 20 years beginning in July 2024. Pursuant to the One Nevada Agreement, Washoe County will receive an estimated total net allocation of $7,291,113.53.
The proposed settlement with Walgreens and the State of Nevada is in the amount of $285,000,000.00 before attorney's fees are deducted (there are no costs associated with this settlement) and will be paid in equal installments over 15 years beginning in December 2023. Pursuant to the One Nevada Agreement, Washoe County will receive an estimated net allocation of $10,936,670.30.
District Attorney. (All Commission Districts.) FOR POSSIBLE ACTION