Commonwealth of Virginia
Office of the Attorney General
Jason S. Miyares
202 North 9th Street
Richmond, Virginia 23219
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Virginia Receives First Payment From Mallinckrodt Settlement
~Virginia will receive an initial payment of approximately $3,488,576.07~
RICHMOND, VA – Attorney General Jason Miyares today announced that Virginia will receive its first payment from opioid manufacturer Mallinckrodt this week. The Commonwealth’s initial payment is $3,488,576.07, which will be divided amongst the Commonwealth, the Opioid Abatement Authority, and the localities. The payments are expected to be rolled out throughout the week.
This payment is the first from an expected $24.6 million over the next eight years, assuming Mallinckrodt does not prepay the settlement. Should Mallinckrodt opt to prepay the settlement in the next 18 months, Virginia is expected to receive approximately $17 million. Mallinckrodt’s decision regarding long-term payment does not affect this week’s initial payment of nearly $3.5 million.
“At the Office of Attorney General, we will continue to pursue important settlement funding for the Commonwealth of Virginia. Securing and executing multi-million dollar settlements will significantly impact Virginia’s fight against the opioid epidemic,” said Attorney General Miyares.
Projected disbursements from this initial payment can be found HERE.