Purdue Pharma’s Sackler family owners have struck a new agreement to settle mass opioid litigation against them for a total of $6.5 billion, New York Attorney General Letitia James said Thursday.
The deal comes after the Supreme Court blocked a controversial bankruptcy plan for Purdue that shielded Sackler family members from future lawsuits.
The Office of the Attorney General came to a $7.4 billion settlement with the Sackler family and their company, Purdue Pharma, over their actions leading up to the opioid crisis, which has killed several hundreds of thousands of people in the last two decades.
Members of the family who own OxyContin maker Purdue Pharma agreed to pay up to $7.4 billion in a new settlement to lawsuits over the toll of OxyContin.
This settlement is among the largest in recent years as lawsuits seek to hold companies accountable for the US opioid epidemic.
The settlement, in principle, would not shield Purdue Pharma or the Sackler family from additional liability over their role in the opioid crisis.
Opioid maker Purdue Pharma and members of the Sackler family have reached a tentative deal over their role in the opioid crisis that’s expected to deliver up to $250 million to New York, Attorney General Letitia James said Thursday.
A bipartisan coalition of states has reached a $7.4 billion settlement in principle with members of the Sackler family and their former company Purdue Pharma over their role in the opioid crisis.
The new settlement deal could net Pennsylvania and Delaware as much as $212 million and $27 million, respectively, in payouts.
Purdue Pharma and the Sackler families agreed Thursday to increase their financial contribution to $7.4 billion to resolve mass opioid litigation.
Massachusetts residents who lost relatives to opioid overdoses expressed elation Thursday after the family that built its fortune on the highly addictive painkiller OxyContin agreed to a new deal to pay billions of dollars to communities ravaged by the opioid epidemic,
The Sackler family and Purdue Pharma, the maker of the addictive painkiller oxycontin, have reached a $7.4 billion settlement with a bipartisan coalition of 15 states for fueling the opioid crisis, New York Attorney General Letitia James announced Thursday.