Colorado To Get $385 Million From National Opioid Suit

Colorado To Get $385 Million From National Opioid Suit

Introduction

The Colorado Attorney General's Office informed that Colorado will soon receive around $385 million from the three major drug distribution companies of the United States and Johnson & Johnson (J&J) as part of the nationwide opioid settlement.

The sum will be a part of the $26 billion nationwide opioid settlement. Every municipality and county in Colorado has agreed to the settlement and plan that provides the fund distribution.

The fast-paced processing of the approvals of the settlement from the local governments of Colorado depicts the seriousness and collaborative commitment to combat the opioid epidemic.

Centers for Disease Control and Prevention provided data that from 2000 to 2020 more than 7,600 Coloradans died from opioid overdoses and much more are still suffering from addiction. The data even reveals that the death toll from overdoses will outdo the last year's tally considering the growing outrage of opioids.

The maximum portion of the settlement amount will be used to conduct drug treatment programs, recovery prevention, education and harm reduction programs. As per the distribution agreement, the drug distributors will pay the settlement amount over 18 years, and J&J will pay over the schedule of nine years.

The state has even received roughly $8.2 million from a nearly $10 million settlement against McKinsey & Co. over the allegations that the company fueled the opioid epidemic for making profits. On the other hand, J&J has stated that it has discontinued the sale of opioid medications.