Minnesota Part of $450M Tentative Settlement With Opioid Maker
Minnesota is among the 36 states that have reached an "agreement in principle" with a major opioid producer.
A news release from the Minnesota Attorney General's Office says the tentative settlement would require Endo International to pay $450 million dollars over 10 years. the funds would be distributed to participating states and local governments to address the ongoing opioid crisis.
The agreement also calls for a ban on the promotion of the company's opioid products and requires Endo to surrender millions of documents related to its role in the crisis. According to the news release, that could provide millions of additional dollars for treatment, remediation, and preventive efforts in Minnesota, although Minnesota's share of the tentative settlement has yet to be calculated.
As part of the proposed settlement, Endo will undergo reorganization and will begin making payments to the 36 states after the company emerges from bankruptcy.
Last summer, the Minnesota Attorney General's Office participated in a $26 billion multistate settlement with several pharmaceutical distributors and opioid manufacturer Johnson and Johnson. Earlier this summer, tentative multistate agreements worth $6.6 billion were announced involving opioid makers Teva Pharmaceuticals and Allergen.
Earlier settlements were negotiated with Perdue Pharma and the Sackler family, which manufactured and marketed OxyContin. That settlement was valued at $4.3 million and another settlement was announced in February that calls for the consulting firm McKinsey and Company to pay $573 million to multiple states.
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