DENVER (CBS4)– The company Mallinckrodt, or MNK, is the largest generic opioid manufacturer in the U.S. The company will pay $1.6 billion to a trust for its role in the opioid crisis.
Colorado will divide that money with other states which will be used to address the opioid epidemic.
Colorado Attorney General Phil Weiser said the amount that Colorado will receive is still under negotiation.
“The opioid epidemic has destroyed thousands of lives and families in communities throughout Colorado. Today’s settlement agreement with Mallinckrodt is part of our efforts to hold those who contributed to this epidemic accountable and to put in place necessary protections. While we still need to negotiate how much Colorado will receive from this national settlement with MNK, the funds will support urgently needed drug treatment and recovery pathways in our state,” said Weiser in a statement.
MNK agreed that its opioid business will be subject to stringent court-ordered requirements that will prevent promotion of opioids and ensure systems are in place to prevent drug misuse.