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Committee advances bill to add three manufacturers to opioid settlement list, estimates $2.6M for state
Summary
Senate Bill 14-95 would add three generic manufacturers — Allergan, Apotex and Zydus — to the state's listed companies for opioid settlements; sponsor said the change is estimated to bring $2.6 million to state abatement funds and the bill moved to committee calendar.
Senator Hale presented Senate Bill 14-95 to add three pharmaceutical manufacturers to Tennessee's opioid-settlement statute so the state may pursue claims and settlement funds from those companies. The bill would add Allergan, Apotex and Zydus Pharmaceuticals to the list of entities the state can include in opioid settlements; the sponsor estimated an additional $2.6 million to the state's opioid abatement funds if implemented.
Hale told the committee the statute already lists 17 companies and Tennessee has received approximately $462 million to date from settlements; SB14-95 preserves the statute’s existing allocation formula (70% to the Opioid Abatement Trust Fund, 15% to the general fund, 15% to counties/municipalities). The committee approved moving SB14-95 to the committee calendar by roll-call vote.
