Bloomberg Philanthropies Commits $120 million to Opioid Epidemic

Getty Images

Former New York City Mayor Michael Bloomberg committed to funding $120 million on Wednesday to reduce overdose deaths in the United States through his foundation, Bloomberg Philanthropies.

The sum of money would aim to expand the foundation's commitment to the Bloomberg Opioid Overdose Prevention Initiative that launched in 2018. States hit the hardest by the opioid crisis will be seeing the majority of the money within the five-year, $120 million investment. Kentucky, New Jersey, New Mexico, North Carolina, and Wisconsin now join Michigan and Pennsylvania as targeted regions to receive funding as a part of Bloomberg Philanthropies’s intiative.

The five newly indoctrinated states will receive $10 million in support over the next five years, while Michigan and Pennnsylvania will see an additional $4 million over the next three years on top of the sum of money they received from the Opioid Prevention Initiative’s initial 2018 investment.

“In New Jersey, we’ve made incredible strides in our fight against the opioid epidemic,” said New Jersey Governor Phil Murphy. “Bloomberg Philanthropies’ investment will allow us to continue our current efforts and implement new, innovative strategies to further support individuals impacted by the opioid crisis.”

Through the initiative, Bloomberg Philanthropies aims to implement new programs and begin advocating for federal policies that would address treatment access and harm reduction. To further reduce overdose deaths, the initiative’s funding will provide for direct services, technical assistance, and embedded staff at government agencies and organizations to advise local and state-led interventions.

“The coronavirus pandemic has only underscored and highlighted the crisis we are facing in our state and country with the opioid epidemic,” said Wisconsin Governor Tony Evers. “Wisconsin is thrilled to be joining this partnership with Bloomberg Philanthropies as we work tirelessly together to save lives, expand treatment and services, and build a healthier state.”

Bloomberg Philanthropies' expansion of the Opioid Initiative follows a period of time in which the opioid epidemic has worsened from the effects of COVID-19 pandemic.  According to the Centers for Disease Control and Prevention (CDC), over 93,000 people died in the U.S. from overdose deaths; the highest number of overdose deaths recorded in a single year in U.S. history. The mortality total was a nationwide 30% increase from the previous 12-month period. The CDC’s data also showed that 75% of the deaths (roughly 69,000 people), could be attributed to being opioid-related.

The Opioid Initiative’s initial 2018 investment has shown significant results even through the coronavirus pandemic. The CDC’s statistics show that overdose deaths decreased in Michigan and Pennsylvania prior to the arrival of COVID-19. During the pandemic, when infection rates in the United States peaked, both Michigan and Pennsylvania experienced lower increases in overdose deaths than the national average.

Such strides in reducing drug overdose deaths by Bloomberg Opioid Overdose Prevention Initiative has kept associated state leaders enthusiastic for the multi-year partnership.

“We need bolder, nationwide action, especially from the federal government – but we can’t afford to wait until that happens,” said Bloomberg.