Colorado has officially become part of a massive settlement involving Purdue Pharma and the Sackler family, amounting to billions of dollars.
A monumental $7.4 billion settlement is set to deliver almost $76 million to Colorado, earmarked for distribution among local and state governments. This marks the most significant opioid settlement ever reached in the United States.
Colorado Attorney General Phil Weiser stated that this settlement has been anticipated for quite some time.
“One of the very first cases I brought was against the Sackler family, working to hold them accountable and provide critical funds to address our opioid crisis,” Weiser said. “Seeing this work to completion marks the end of an important chapter and an opportunity to support Colorado’s nationally recognized opioid crisis response work. The Sacklers’ conduct was outrageous, illegal, and immoral; this settlement ends their involvement with Purdue Pharma and provides a measure of accountability for their wrongdoing.”
Every single U.S. state and territory joined in a legal battle aimed at holding Purdue Pharma and the Sackler family accountable for their involvement in the opioid epidemic sweeping the nation.
Purdue has been producing OxyContin since 1996, a potent prescription opioid painkiller that rapidly gained popularity as one of the most commonly prescribed pain medications across the United States.
“Under the Sacklers’ ownership, Purdue made and aggressively marketed opioid products for decades, fueling the largest drug crisis in the nation’s history,” said a statement from Weiser’s office.
The Sackler family is set to relinquish control of Purdue, as a court-appointed board takes charge of the company’s ongoing operations, directing all profits towards combating the opioid epidemic.
The settlement is on the brink of finalization, pending a judge’s approval expected in the coming days. Those affected, such as victims, local authorities, healthcare professionals, and others, will have until September 30 to cast their votes on the agreement. Individuals who choose not to endorse the agreement will retain the opportunity to initiate their own legal actions.
Should the proposal receive approval, the allocation of funds will take place over the next 15 years, aimed at empowering communities in their efforts towards addiction treatment, prevention, and recovery initiatives. A mere fraction of the total funds, amounting to $850 million, is designated for victim compensation.
Colorado is set to receive an estimated $75,670,000 from this settlement, with the bulk of the funds expected to be allocated within the next three years, while the distribution will span a total of 15 years. Colorado is poised to secure almost $870 million in financial support from corporations that contributed to the opioid crisis.
Amidst a troubling trend, drug overdose fatalities in the state have reached unprecedented levels, with 5,000 of these deaths reportedly linked to opioid use disorder, driven by Purdue’s extensive and misleading efforts to promote and distribute opioids.
Data from Colorado’s Center for Health and Environmental Data reveals that the state experienced 1,865 overdose fatalities in 2023. Although there has been a slight decrease from the peak of 1,881 fatalities in 2021, the numbers have risen from the 1,799 deaths recorded in 2022.
The figures for all three years are almost twice as high as the averages recorded before the pandemic, which stood at 725 deaths annually from 2000 to 2020.
The last court session regarding the Purdue settlement is set for November 10.
