 |  | 5919 MAIN STREET . NEW PORT RICHEY, FL 34652 . 727.853.1016 |
| TO: | City of New Port Richey City Council | | FROM: | Debbie L. Manns, City Manager | | DATE: | 6/7/2022 | | RE: | Request to Participate in the Florida Settlement with Walgreens Pertaining to the National Prescription Opiate Litigation, MDL No. 2804 (N.D. Ohio) |
REQUEST:
The request is for City Council to approve a request to participate in the Florida Settlement with Walgreens pertaining to the National Prescription Opiate Litigation, MDL No. 2804 (N.D. Ohio) and to authorize the City Manager to execute the Subdivision Settlement Participation Form and any other documents as necessary for this settlement.
DISCUSSION:
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 approximately $1.3 billion with Teva, Allergan & CVS earlier this month. Last week the City was notified that the Florida Attorney General has settled with Walgreens for an estimated $683 million. As with the Teva, Allergan & CVS settlement, the funds will be distributed over an 18 year period. The estimated payment amount that the City will receive has not been released as of yet.
The executed settlement agreement is attached for reference along with the Subdivision Settlement Participation Form for Walgreens for Council's approval.
RECOMMENDATION:
Staff recommends that City Council approve the request to participate in the Florida Settlement with Walgreens pertaining to the National Prescription Opiate Litigation, MDL No. 2804 (N.D. Ohio) and authorize the City Manager to execute the Subdivision Settlement Participation Form and any other documents as necessary for this settlement.
BUDGET/FISCAL IMPACT:
No funding is required for this item. | | | |