SALYERSVILLE – Money is starting to roll in from the $26 billion national settlement with Cardinal Health, McKesson and AmerisourceBergen – the three major pharmaceutical distributors in the U.S. – and Johnson & Johnson, which manufactured and marketed opioids. The federal agreement stems from the companies’ roles in creating and fueling the opioid epidemic.
Of the $26 billion, Kentucky is set to receive $478.1 million, with Magoffin slated to receive $647,232, to be paid out in installments through 2038. In collaboration with the Attorney General’s office, KACo worked to ensure that counties receive their fair share of the settlement dollars to support addiction treatment and recovery services.
Counties and cities will receive half of the state’s allocation, approximately $239 million, less funds set aside for payment of fees to the attorneys that represented local governments in the litigation.
The funds can only be spent for specified opioid abatement purposes, already outlined in the settlement.
Magoffin County Judge/Executive Matt Wireman said they’re still waiting for guidance from the state before they will decide how to allocate the funds.
The first checks went out in December, with the following payments scheduled through 2038:
Magoffin County’s Opioid Settlement Payment Schedule
2022 $137,590
2023 $22,125
2024 $27,692
2025 $27,692
2026 $32,454
2027 $32,454
2028 $37,331
2029 $42,152
2030 $42,152
2031 $36,487
2032 $29,872
2033 $29,872
2034 $29,872
2035 $29,872
2036 $29,872
2037 $29,872
2038 $29,872
Total $647,232
