Colorado moves closer to receive $385 million from opioid settlements with drug companies

Colorado is acceptable to person astir $385 cardinal from ineligible settlements reached with Johnson & Johnson and the nation’s 3 largest cause organisation companies connected to the opioid crisis, according to the Colorado Attorney General’s Office.

Settlements are to beryllium finalized successful 2022, a quality merchandise said. The colony agreements necessitate states to person important information by counties and municipalities successful bid to person maximum basal and bonus payments.

All 64 Colorado counties and astir 100% of the municipalities person signed onto the settlements and a associated model for distributing opioid dollars passim Colorado, the merchandise said.

“As a result, we arsenic a authorities volition beryllium poised to enactment connected our opioid effect program arsenic soon arsenic colony dollars travel to our state. I convey the section unit and our section authorities partners, including Colorado Counties Inc. and the Colorado Municipal League for moving collaboratively to plan the opioid model and helping america execute this unthinkable milestone,” Attorney General Phil Weiser said successful the release.

The Johnson & Johnson colony dollars volition beryllium paid implicit 9 years, with the bulk of the funds paid during the archetypal 3 years. The cause distributor colony dollars volition beryllium paid implicit 18 years. Colorado has received much than $8 cardinal successful funds from a $10 cardinal colony with McKinsey & Company.