Colorado is set to receive about $385 million from legal settlements reached with Johnson & Johnson and the nation’s three largest drug distribution companies connected to the opioid crisis, according to the Colorado Attorney General’s Office.
Settlements are to be finalized in 2022, a news release said. The settlement agreements require states to have significant participation by counties and municipalities in order to receive maximum base and bonus payments.
All 64 Colorado counties and nearly 100% of the municipalities have signed onto the settlements and a joint framework for distributing opioid dollars throughout Colorado, the release said.
“As a result, we as a state will be poised to act on our opioid response plan as soon as settlement dollars come to our state. I thank the department staff and our local government partners, including Colorado Counties Inc. and the Colorado Municipal League for working collaboratively to design the opioid framework and helping us achieve this incredible milestone,” Attorney General Phil Weiser said in the release.
The Johnson & Johnson settlement dollars will be paid over nine years, with the majority of the funds paid during the first three years. The drug distributor settlement dollars will be paid over 18 years. Colorado has received more than $8 million in funds from a $10 million settlement with McKinsey & Company.
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