Attorney General Jason Miyares today announced that 55 attorneys general, representing all eligible states and U.S. territories, agreed to sign on to a $7.4 billion settlement with Purdue Pharma and its owners, the Sackler family. The Sackler family has also indicated its plan to proceed with the settlement, which would resolve litigation against Purdue and Sacklers for their role in creating and fueling the nationwide opioid epidemic.

“The Sacklers spent years fueling an epidemic that shattered families, wrecked communities, and cost hundreds of thousands of American lives. Though no amount of money will ever bring back those we’ve lost or undo the incomprehensible level of harm caused, these settlement funds will be invested in treatment, prevention, and recovery efforts across Virginia, helping our communities heal and saving lives,” .

Virginia will receive as much as $103.8 million from this settlement over the next 15 years, which will be invested into local prevention, treatment, and recovery efforts.

Under the Sacklers’ ownership, Purdue made and aggressively marketed opioids for decades, fueling the largest drug crisis in American history. The settlement ends the Sacklers’ control of Purdue and their ability to sell opioids in the United States.

This settlement in principle is the nation’s largest settlement to date with individuals responsible for the opioid crisis. Including this new settlement, the Virginia Office of the Attorney General has secured over $1.1 billion in settlements for Virginia.

Most of the settlement funds will be distributed in the first three years. The Sacklers will pay $1.5 billion and Purdue will pay roughly $900 million in the first payment, followed by $500 million after one year, an additional $500 million after two years, and $400 million after three years.

Like prior opioid settlements, the settlement with Purdue and the Sacklers will involve resolution of legal claims by state and local governments. The local government sign-on and voting solicitation process for this settlement moving forward will be contingent on bankruptcy court approval. A hearing is scheduled on that matter in the coming days.

Virginia Attorney General Jason Miyares is joined in securing this settlement in principle by the attorneys general of Alabama, Alaska, American Samoa, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Northern Mariana Islands, Ohio, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, U.S. Virgin Islands, Utah, Vermont, Washington, West Virginia, Wisconsin, Wyoming.