The West Virginia First Foundation was formed to distribute funds the state will receive from multiple legal settlements with opioid manufacturers and distributors. The state is expected to receive about $1 billion in settlement money over the next few years.
The state will put $10 million — earned from the settlement with McKinsey & Company in 2021 — into a seed fund. The rest of the money, according to the First Foundation’s Memorandum of Understanding, will be divided between local governments (24.5%) and the First Foundation (72.5%). Three percent will go to the state to be held in escrow for expenses incurred related to opioid litigation.
Tags: Drug Strategy Harm Reduction Opioid Epidemic Settlement
