Purdue Pharma and Sackler Family Reach New Opioid Settlement with States

    OxyContin maker Purdue Pharma has reached a new settlement with states over the opioid crisis, the Associated Press reports. Members of the Sackler family, who own the company, have agreed to contribute as much as $6 billion. The new settlement must be approved by a U.S. bankruptcy judge.

    An earlier settlement was appealed by eight states and the District of Columbia. The attorneys general for the states and DC agreed to the new settlement after the Sacklers increased their contribution to the settlement and accepted other terms. If the settlement is approved, the family will be protected from civil litigation.

    Under the terms of the new deal, members of the Sackler family would cede control of the company so it can be turned into a new entity, with profits going to communities to address the opioid crisis. As part of the new settlement, additional company documents will be made public.

    Sackler family members did not apologize but did issue a statement of regret that OxyContin “unexpectedly became part of an opioid crisis that has brought grief and loss to far too many families and communities.”


    March 2022