Purdue Pharma and owners to pay $7.4 billion in settlement to lawsuits over the toll of OxyContin
By GEOFF MULVIHILL, Associated Press
Members of the family who own OxyContin maker Purdue Pharma, and the company itself, agreed to pay up to $7.4 billion in a new settlement to lawsuits over the toll of the powerful prescription painkiller, the attorneys general from several states announced Thursday.
The deal, agreed to by Purdue Pharma, the Sackler family members who own the company and lawyers representing state and local governments and thousands of victims of the opioid crisis, replaces a previous settlement deal that was rejected last year by the U.S. Supreme Court.
In the new one, the Sacklers agreed to pay up to $6.5 billion and give up ownership of the company, which would pay nearly $900 million. The maximum contribution from family members is $500 million more than the previous deal.
It’s among the largest settlements reached over the past several years in a series of lawsuits by local, state, Native American tribal governments and others seeking to hold companies responsible for a deadly epidemic. Aside from the Purdue deal, others worth around $50 billion have been announced — and most of the money is required to be used to stem the crisis.