US EditionJudge to explain why he's approving Purdue Pharma settlement plan, which calls for $7B from Sacklers
Sackler family to pay $7 billion over 15 years, with funds mainly aiding governments addressing 900,000 U.S. opioid deaths since 1999, judge said.
- The Sackler family agreed to pay up to $7 billion over 15 years as part of a settlement, with Judge Sean Lane stating this plan is among the largest opioid settlements ever and will compensate some victims of the crisis.
- The funds will be mostly used to address the opioid crisis, with about $850 million allocated for individual victims who can prove they were prescribed OxyContin, with payments ranging from $8,000 to $16,000 based on specific criteria.
- A new company, Knoa Pharma, will replace Purdue Pharma, managed by a board appointed by states, aiming to benefit the public.
- The settlement includes provisions for Sackler family members to give up ownership of Purdue and to refrain from having their name placed on institutions in exchange for contributions.
129 Articles
129 Articles
Plan includes organizational changes for OxyContin maker Purdue; Sackler family members to pay $7B
Members of the Sackler family who own OxyContin maker Purdue Pharma must pay billions of dollars to settle a flood of lawsuits over the harms of opioids under a new deal approved by a federal bankruptcy judge.
Purdue Pharma, We Will See You In Hell!
Mmm, pills. Photo by danilo.alvesd on UnsplashA bankruptcy judge says he will make it official: Purdue Pharma — in business in some form since 1892 and wholly owned by members of the Sackler family since 1952 — shall soon be no more, dissolved, and it and its soon-to-be-former owners the family shall pay some $7 billion over 15 years for their aggressive role in getting America dopesick pushing OxyContin with lies.Your reminder, the evil narco-c…
CT receives $64 million in Purdue Pharma bankruptcy settlement
The state of Connecticut will get $64 million from Purdue Pharma and the Sackler family for their role in the opioid crisis. It’s part of a $7.4 billion settlement announced by the U.S. Bankruptcy Court for the Southern District of New York on Tuesday. Connecticut’s settlement money will be used for opioid treatment and prevention, and to give direct support to victims and their families, said Attorney General William Tong. “But no amount of mon…
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