Michigan has become the latest state to join a national multi-billion dollar settlement against the opioid industry.
Under the deal, Michigan stands to receive as much as $800 million from Johnson & Johnson and three opioid distributors: Cardinal Health, McKesson and AmerisourceBergen.
The $26 billion settlement is the largest of its kind since 1998, when 46 states sued the tobacco industry’s four biggest players to recoup smoking-related health care costs.
The Michigan Attorney General’s office says the settlement provides for a default structure that gives 15 percent each to the state and local governments and 70 percent into a fund to combat the health effects of the opioid epidemic.
The state is talking with local governments to explain how they might receive direct payments.
Local governments will be able to sign onto the agreement sometime in the next two weeks.
The sign on period ends after 120 days.