Viatris (VTRS) said Monday it plans to settle opioid-related claims against the company and some of its subsidiaries by states, local governments, and Tribes through a nationwide settlement framework.

Depending on the level of participation in the settlement, the company said it will pay up to a maximum of $335 million, made up of annual payments over nine years of between around $27.5 million and $40 million each, "to help support state and local efforts to address opioid-related issues."

The company noted that the potential settlement amount is already reflected in its 2024 annual report.

Viatris said it agreed to the settlement to "provide closure" on the matter, and the settlement is "in no way an admission of wrongdoing or liability."