New Hampshire could receive up to $30 million over the next ten years from a settlement with Purdue Pharma and its owners, the Sackler family, according to state Attorney General John Formella.

The Attorney General’s office announced on Monday that, alongside 54 attorneys general nationwide, Formella has signed on to a $7.4 billion settlement aimed at resolving litigation against the pharmaceutical company and its owners and holding them accountable for their role in the opioid crisis.

“While no settlement can reverse the devastation caused, this funding — up to $30 million for New Hampshire — will directly support treatment, recovery and prevention efforts in communities across our state. These resources are critical as we continue working to address the long-term impact of this epidemic,” Formella said.

Purdue created and aggressively marketed opioid products for decades under the Sacklers’ ownership, and the settlement ends the family’s control over the company and its ability to sell opioids in the U.S.

To date, this settlement is the largest in the nation with individuals responsible for fueling the opioid crisis. Most settlement funds will be distributed within the first three years, with the first including $1.5 billion from the Sackler family and about $900 million from Purdue. The Sackler family will pay $500 million after one year, another $500 million after the second year and $400 million after three years.

The Sacklers’ payments are structured to be disbursed over nine years, while Purdue’s are set to continue for 15 years. If all payments are made as scheduled, the family will contribute more to the settlement than the company.

New Hampshire has been part of this case since 2015 and, because of its early participation, will receive settlement funds over 10 years. The broader national settlement spans 15 years.

Thus far, New Hampshire has received more than $97.4 million in settlement funds related to opioids from various companies, including CVS, Walmart, Walgreens and McKesson. $60.9 million of that capital has been awarded as grant money to facilitate programs that foster the treatment, recovery and prevention of substance use addictions.

To move forward with this settlement and to maximize the funds New Hampshire can receive from it, all eligible local governments will need to sign releases, contingent on bankruptcy court proceedings. A related hearing will be scheduled soon.

Yaa Bame can be reached at ybame@cmonitor.com