Purdue Pharma, U.S. States Agree To New Opioid Settlement
Newsy
In all, the settlement plan could be worth more than $10 billion over time.
Purdue Pharma reached a nationwide settlement Thursday over its role in the opioid crisis, with the Sackler family members who own the company boosting their cash contribution to as much as $6 billion in a deal intended to staunch a flood of lawsuits facing the maker of OxyContin.
The deal follows an earlier settlement that had been appealed by eight states and the District of Columbia. They agreed to sign on after the Sacklers kicked in more cash and accepted other terms. In exchange, the family would be protected from civil lawsuits.
In all, the plan could be worth more than $10 billion over time. It calls for members of the Sackler family to give up control of the Stamford, Connecticut-based company so it can be turned into a new entity with profits used to fight the crisis. The deal would not shield members of the family from criminal charges, although there’s no indication any are forthcoming.
