Judge Approves $8.3 Billion Settlement With OxyContin Maker Purdue Pharma

This week a federal bankruptcy judge authorized a settlement valued at $8.3 billion between OxyContin maker Purdue Pharma and the Department of Justice, NPR reports.

Under the terms of the settlement, the company will plead guilty to three felony counts of criminal wrongdoing related to its role in the country’s opioid crisis. Purdue Pharma is also likely to be reorganized into a public benefit corporation. Future sales of opioids are expected to fund rehabilitation and other addiction-related recovery programs.

Last week, a group of Democratic senators urged the Justice Department to drop its efforts to convert Purdue Pharma into a public asset.

The settlement with Purdue Pharma is separate from thousands of opioid-related lawsuits against other drug makers, drug distributors and pharmacy chains. Those cases are still pending in federal and state courts.

Photo Credit: The New York Times