Judge Approves $7 B. Purdue Pharma Settlement, Potentially Ending Years-Long Legal Saga

"Purdue, founded and owned by the Sacklers, created and sold OxyContin beginning in the 1990s. Purdue filed for bankruptcy in 2019 amid over 2,500 lawsuits by states, local governments, hospitals, and individuals accusing it and the family of knowingly misleading consumers about the drug's addictive properties, thereby directly contributing to the opioid crisis. More than 564,000 people died due to opioids in the United States between 1999 and 2020, according to the Centers for Disease Control and Prevention."

"While the details of the deal will not be released until Tuesday, it is expected that members of the Sackler family will be required to contribute up to $7 billion and to give up ownership of Purdue. The Guardianreported that it is expected that there will be scope in the new deal for people to directly sue members of the Sackler family for their role in the opioid crisis."

"Artist and activist Nan Goldin at a rally and die-in outside New York's Southern District Federal Court in White Plains, where Purdue Pharmaceuticals bankruptcy hearing is being held. Participants threw thousands of mock "Oxy Dollars" and prescription bottles of OxyContin while holding banners reading "Shame On Sackler", "200 Dead Each Day" and "Claw Back Sackler $$, Fund Harm Reduction". LightRocket via Getty Images"

Federal bankruptcy judge Sean Lane approved a new settlement resolving thousands of lawsuits against Purdue Pharma related to its promotion of OxyContin. Purdue filed for bankruptcy in 2019 amid more than 2,500 suits by states, local governments, hospitals and individuals accusing the company and the Sackler family of knowingly misleading consumers about the drug’s addictive properties. More than 564,000 people died from opioids in the United States between 1999 and 2020, according to the Centers for Disease Control and Prevention. Members of the Sackler family are expected to contribute up to $7 billion and relinquish ownership of Purdue. The agreement may permit direct lawsuits against Sackler family members. Deal details will be released Tuesday.

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