Purdue Pharma and its owners, the Sackler family, have reached a $7.4 billion settlement with attorneys general from all 50 states, Washington, D.C., and four U.S. territories, resolving years of litigation over the company’s role in the opioid epidemic. The deal, which must still be approved by a federal bankruptcy court, will see the majority of funds distributed in the next three years to support addiction treatment, prevention, and recovery programs nationwide.
Under the terms of the settlement, the Sackler family will relinquish control of Purdue Pharma and be permanently barred from selling or marketing opioids in the United States. The agreement also allows individuals to pursue civil lawsuits against the Sacklers if they choose not to participate in the releases offered by the settlement. The initial payments will include $1.5 billion from the Sacklers and $900 million from Purdue, with additional payments scheduled over the next 15 years.
Subscribe to our e-Newsletters
Stay up to date with the latest news, articles, and events. Plus, get special offers
from American Pharmaceutical Review – all delivered right to your inbox!
Sign up now!