AGENDA ITEM REPORT
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A RESOLUTION AUTHORIZING PARTICIPATION IN EIGHT (8) OPIOID-RELATED LITIGATION SETTLEMENTS WITH ALVOGEN, INC., AMNEAL PHARMACEUTICALS, INC., APOTEX, INC., HIKMA PHARMACEUTICALS USA, INC., INDIVIOR, INC., MYLAN PHARMACEUTICALS, INC., SUN PHARMACEUTICALS INDUSTRIES, INC., AND ZYDUS PHARMACEUTICALS (USA), INC.; AND AUTHORIZING THE CITY MANAGER, OR DESIGNEE, TO EXECUTE ALL NECESSARY AGREEMENTS.
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BACKGROUND:
On March 22, 2018, the City Commission adopted Resolution No. 2018-073, directing the City Attorney to engage the firms of Robbins Geller Rudman & Dowd, LLP and Lieff Cabraser Heimann & Bernstein, LLP ("Outside Counsel") to file a lawsuit against various pharmaceutical manufacturers and to join the nationwide multidistrict litigation "In Re: National Prescription Opiate Litigation," MDL No. 2804.
The City of Coconut Creek has been notified that after years of litigation, new national opioid settlements have been reached between settling states and participating subdivisions against multiple opioid manufacturers, including Alvogen, Inc.; Amneal Pharmaceuticals, Inc.; Apotex, Inc.; Hikma Pharmaceuticals USA, Inc.; Indivior, Inc.; Mylan Pharmaceuticals, Inc.; Sun Pharmaceutical Industries, Inc., and Zydus Pharmaceuticals (USA), Inc. These proposed settlements will resolve opioid litigation brought by states, local political subdivisions, and special districts against theses eight (8) pharmaceutical companies.
DISCUSSION:
The opioid crisis has imposed substantial social and financial burdens on the State of Florida, the City of Coconut Creek, and many other cities and counties within the State, including increased emergency response, treatment, and law enforcement expenditures. Under these national settlements, funds will be distributed using a formula consistent with that applied in prior settlements, ensuring states and local governments receive their proportionate share. Settlement participants will receive funds to be used s...
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