Sackler Family Withdrew More Than $10 Billion from OxyContin Maker Purdue Pharma

Members of the Sackler family, who own OxyContin maker Purdue Pharma, withdrew more than $10 billion from the company as scrutiny over its role in the opioid epidemic grew, The New York Times reports.

The family directed the money from the drug company to family-controlled trusts and holding companies, according to a new audit commissioned by Purdue. The Sackler family has offered to contribute at least $3 billion in cash as part of a settlement of thousands of lawsuits brought by state and local governments against the company. Twenty-four states have refused to sign onto the agreement.

“The fact that the Sackler family removed more than $10 billion when Purdue’s OxyContin was directly causing countless addictions, hundreds of thousands of deaths, and tearing apart millions of families is further reason that we must see detailed financial records showing how much the Sacklers profited from the nation’s deadly opioid epidemic,” said New York Attorney General Letitia James. “We need full transparency into their total assets and must know whether they sheltered them in an effort to protect against creditors and victims.”

Heroin & the Opioid Epidemic: From Understanding to Action

Heroin and other opioids are ravaging communities across America. Heroin-related deaths increased by more than five times between 2010 and 2017, and drug deaths from fentanyl and other synthetic opioids are seeing a sharp rise as well.

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