Purdue Pharma, the company that makes OxyContin, and members of the Sackler family, which owns the company, agreed to pay up to $7.4 billion in a new opioid settlement, AP reports.
The deal replaces a previous settlement that was rejected by the U.S. Supreme Court last year. The court blocked the earlier deal because it protected members of the Sackler family from future civil lawsuits over OxyContin, even though only Purdue, not the Sackler family, declared bankruptcy. The new proposed deal protects family members from lawsuits only from entities that agree to the settlement. Instead of providing protection from all future litigation, the new deal would require claimants to contribute up to $800 million to pay for the Sacklers to fight litigation from groups that do not agree to the settlement.
In the new deal, the Sacklers agreed to pay up to $6.5 billion and give up ownership of Purdue Pharma. The company would pay almost $900 million. The maximum contribution from Sackler family members is $500 million more than the earlier deal, according to AP.
The deal still needs court approval.