(The Center Square) – Colorado is set to get $81 million if a settlement between a coalition of states, the Sackler family and Purdue Pharma is approved.
Colorado’s portion would be part of a $7.4 billion settlement in principle with U.S. states and the family for “their central role in creating the opioid crisis,” the attorney general’s office said in a statement Thursday.
The settlement comes after the U.S. Supreme Court in June overturned a previous settlement between states and the Sacklers.
“Purdue and the Sacklers profited off fueling a devastating opioid crisis that has greatly harmed communities and families across Colorado,” Attorney General Phil Weiser said. “After years of litigation, the Sacklers and their company are finally being held accountable for their wrongful conduct, and the funds we are securing will go to communities responding to the opioid crisis and working to prevent addiction and overdoses.”
The settlement, which would spread payments out over 15 years, would end the family’s control of Purdue and make over 30 million documents from the company made public.
Colorado is joined in the settlement, which a court must approve, by California, Connecticut, Delaware, Florida, Illinois, Massachusetts, New York, Oregon, Pennsylvania, Tennessee, Texas, Vermont, Virginia, and West Virginia.
“A board of trustees selected by participating states in consultation with the other creditors will determine the future of the company,” the attorney general’s office said. “Purdue will continue to be overseen by a monitor and will be prevented from lobbying or marketing opioids under the settlement.”
