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Colorado Prepares for First Round of Opioid Settlement Funds

By José Esquibel

In early February, McKinsey & Co., a major consulting firm, finalized a settlement agreement with 43 states, the District of Columbia and three territories for its role in working with Purdue Pharma in promoting the prescribed opioid OxyContin.

McKinsey agreed to pay $573 million within 60 days of the settlement. According to the Attorney General Phil Weiser, who was one of the leaders on this settlement, the State of Colorado will receive about $10 million. 

The Colorado Office of the Attorney General is working with representatives of local governments on an allocation plan for distributing funds from all settlements with opioid manufacturers, distributors, and retail pharmacies. It is anticipated that an agreement will be reached in time for the receipt of the funds from McKinsey and will also be utilized when funds from as much as $26 billion in national settlements and about $8 billion from the bankruptcy settlement with Purdue Pharma arrive in the state within the next 12 to 18 months.

See the following media accounts for additional details: