The Los Angeles coroner's office attributed his death to "multisystem organ failure" due to a "mixed toxicity" of seven medications.
"Unfortunately Tom's body suffered from many serious ailments including emphysema, knee problems and most significantly a fractured hip", his wife, Dana, and daughter, Adria Petty, said.
The family went on to say that they knew before the coroner informed them of the overdose that Petty was prescribed several pain medications for his ongoing health issues, and those medications included Fentanyl patches.
They added that his death "may spark a further discussion on the opioid crisis and we feel that is a necessary and healthy discussion". "Many people who overdose begin with a legitimate injury or simply do not understand the potency and deadly nature of these medications".
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Petty, whose ringing guitar riffs, distinctive vocals and well-wrought everyman lyrics graced such hits as Refugee, Free Fallin and American Girl, was found unconscious at his home in Malibu on October 2 and died at a hospital later that night.
Music legend Prince, who was also reported to have suffered from hip pain, died a year ago from a fentanyl overdose and may have unwittingly taken the drug. Petty continued to tour despite these limitations, they said.
Petty, known for a string of hits such as "Breakdown", "American Girl", "I Need to Know", "Refugee", "Free Fallin'" and "I Won't Back Down", died in October at age 66 after being found in full cardiac arrest at his home. The band was inducted into the Rock & Roll Hall of Fame in 2002.
A few hours later it was revealed that medical professionals were unable to save Petty and he passed peacefully, surrounded by loved ones.
He was also a co-founder of the Traveling Wilburys group in the late 1980s, recording a clutch of Grammy-winning albums with Bob Dylan, Roy Orbison, Jeff Lynne and George Harrison.