This deal, which must still be approved in court, would see the Sacklers pay the settlement amount over 15 years while relinquishing control of Purdue Pharma. The company, which filed for bankruptcy in 2019 amidst more than 2,600 lawsuits, would essentially become a new entity managed by a board appointed by states and other plaintiffs. Funds from the settlement are intended to support victims, survivors, and state and local governments towards combating the U.S. opioid epidemic.
The agreement follows years of legal battles, including the U.S. Supreme Court’s 2024 rejection of a $6 billion settlement that sought to protect Sackler family members from civil lawsuits. Purdue Pharma and the Sacklers have been widely criticized for misleading marketing practices, including claims that OxyContin supposedly posed a low risk of addiction, which critics argue fueled the opioid epidemic. Opioids have since been linked to hundreds of thousands of deaths in the U.S. alone.
While the Sackler family denies wrongdoing, their role in the opioid crisis has led to widespread public condemnation. Meantime, campaigners allege that the family’s remaining wealth is essentially beyond the reach of the justice system due to much of it reportedly being held in offshore accounts.
To understand why we say it is time to treat the pharma cartel like the tobacco cartel, see this article on our website.
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January 31, 2025Purdue Pharma and Sackler Family Reach New $7.4 Billion Settlement Over Opioids Crisis
News
The Sackler family, which owns the OxyContin maker Purdue Pharma, has agreed to pay up to $7.4 billion in a settlement to lawsuits arising from the opioid epidemic.
[Source: theguardian.com]
[Image source: Adobe Stock]
Comment
This deal, which must still be approved in court, would see the Sacklers pay the settlement amount over 15 years while relinquishing control of Purdue Pharma. The company, which filed for bankruptcy in 2019 amidst more than 2,600 lawsuits, would essentially become a new entity managed by a board appointed by states and other plaintiffs. Funds from the settlement are intended to support victims, survivors, and state and local governments towards combating the U.S. opioid epidemic.
The agreement follows years of legal battles, including the U.S. Supreme Court’s 2024 rejection of a $6 billion settlement that sought to protect Sackler family members from civil lawsuits. Purdue Pharma and the Sacklers have been widely criticized for misleading marketing practices, including claims that OxyContin supposedly posed a low risk of addiction, which critics argue fueled the opioid epidemic. Opioids have since been linked to hundreds of thousands of deaths in the U.S. alone.
While the Sackler family denies wrongdoing, their role in the opioid crisis has led to widespread public condemnation. Meantime, campaigners allege that the family’s remaining wealth is essentially beyond the reach of the justice system due to much of it reportedly being held in offshore accounts.
To understand why we say it is time to treat the pharma cartel like the tobacco cartel, see this article on our website.
Dr. Rath Health Foundation
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