Purdue Pharma and the Sackler family have reached a settlement of up to $7.4 billion, announced by California Attorney General Rob Bonta. The Sackler family will contribute $6.5 billion over 15 years and relinquish ownership of Purdue Pharma, transforming it into a new entity managed by representatives from the states involved in the lawsuit. Additionally, the company will pay $900 million. This settlement comes after a previous agreement was blocked by the Supreme Court due to its protective measures for family members against lawsuits stemming from the opioid crisis.
Under the new proposal, members of the Sackler family would contribute up to $6.5 billion over 15 years and give up ownership of Purdue.
The family’s contribution will be higher than the $6 billion agreed to under the previous version that was blocked by the Supreme Court.
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