The settlement comes from over a dozen drug companies New Mexico sued for allegedly profiting off of selling narcotics that resulted in many individuals becoming addicted.
The $500 million will be distributed over the course of 20 years.
The state received its first chunk of the settlement and has allocated $21 million to six state agencies and the University of New Mexico in Albuquerque. Local governments have also begun receiving funds from the settlement, according to the publication.
The companies who paid the largest settlements include Walmart at $150 million; Kroger at $85 million; and Janssen Pharmaceuticals at $36.7 million.
Settlement negotiations are ongoing with Walgreens and Teva Pharmaceutical Industries.
The funds will be used for new substance abuse and behavioral health facilities as well as medically assisted treatment programs for inmates.
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