$483M From $26B National Opioid Settlement For Kentucky

$483M From $26B National Opioid Settlement For Kentucky

Introduction

Kentucky has reached a settlement of $483 million from the $26 billion national opioid settlement with a drugmaker and three major drug distributors of the U.S.

Current Republican Attorney General Daniel Cameron said that the funds received from the settlement would be crucial for the state to get rid of the epidemic. He even indicated that the funds would start to be issued by April for the span of 18 years.

The state's settlement will be executed under 2021's House Bill 427, which indicates that the settlement amount would be divided into two halves, with one going to the local governments and the other to the state.

The AG explained that the state has fought harder to make sure that the opioid companies pay for their ill-act of deceptive opioid marketing and promoting opioid sale to the consumers, which has resulted in a large-scale opioid epidemic. The crisis has heavily affected the families and communities, disrupting the peace and harmony of the state. The funds will be useful to conduct relevant programs to ensure the addiction cycle ends and the population heals.

As per a state report, Kentucky witnessed an almost 50% surge in fatal drug overdoses as compared to 2020. Opioid abuse was one of the major reasons for the rising death toll apart from the prevalence of fentanyl. Fentanyl is a powerful synthetic opioid that boosts potency when added to other illicit drugs.

It is the second-largest multistate agreement in U.S. history after the Tobacco Master Settlement Agreement. The agreement will resolve more than 4,000 opioid claims from state and local governments across the country.