The Kenai Peninsula Borough Assembly passed a resolution that would authorize the mayor to participate in the opioid settlement.
Assembly member Tyson Cox:
“Resolution 2021-074 authorizing the mayor to participate in the opioid settlement. We are part of the opioid lawsuit that looks like that the Borough may end up receiving $825,000 over the next 18 years. This resolution would make it so that we can receive that money. That would equate to right about $46,000 a year.”
According to the Centers for Disease Control and Prevention, there were over 70,000 overdose deaths reported in the U.S. in 2019, with two-thirds of these deaths involving an opioid. The opioid overdose epidemic has devastated the lives of individuals and families throughout Alaska, and it has stretched-thin available government services.
In response to the opioid epidemic, thousands of state and local governments across the country joined together to file lawsuits against opioid manufacturers and pharmaceutical distribution companies to hold these companies accountable for their misconduct, every single one of which have been joined by the Kenai Peninsula Borough. As a result of the multiple lawsuits, including numerous class action lawsuits, many of the opioid manufacturers have filed for bankruptcy protections.
The three companies involved include Johnson & Johnson, Amerisource Bergen and Cardinal Health Opioid, whom all have been involved in bankruptcy litigation for a year now. The settlement would distribute $26 billion per a plan developed and agreed to by a court-appointed oversight board.
Payment for year one is expected around March 2022 with annual payments to be made by July 15th.
Click here for more information on Resolution 2021-074.