As Council is aware, in May of 2021, the City entered into a Memorandum of Understanding (MOU) regarding the National Prescription Opiate Litigation, MDL No. 2804 (N.D. Ohio).  The MOU set forth a non-binding general framework of a unified plan for the proposed allocation and use of opioid settlement proceeds. Earlier this year, the State of Florida was allocated approximately $1.6 billion dollars from the historic Big Three Distributor and J&J settlements and the proceeds will be administered through the provisions of the MOU.

The City was notified earlier this month that a proposed settlement has been reached with Teva, Allergan & CVS. The proposed settlements are comprised of cash and product to combat the opioid crisis in Florida. With respect to the cash portion, the total is approximately $813,026,499  with $484 million from CVS to be paid over 18 years and $329,026,499 from Teva/Allergan to be paid over 11 years. The proposed settlements also include approximately $84 million worth of product, such as Narcan, to combat the opioid crisis. Based on the Attorney General’s projected estimates, which have not been verified and will likely change slightly, and complete statewide participation by litigating entities, the City's allocation is estimated as follows:

• $98,920.21 CVS
• $39,818.76  Teva
• $27,427.88  Allergan

The executed settlement agreements are attached for reference along with the Subdivision Settlement Participation Forms for Teva, Allergan & CVS for Council's approval.