"The deal is expected to be one of the largest settlements against an opioid manufacturer, with funds set aside for victims. A federal bankruptcy court judge has said he will approve OxyContin-maker Purdue Pharma's latest deal to settle thousands of lawsuits over the toll of opioids. Friday's deal, overseen by United States Bankruptcy Judge Sean Lane, would require members of the Sackler family who own the company to contribute up to $7bn over 15 years,"
"The new agreement replaces one the US Supreme Court rejected last year, finding it would have improperly protected members of the family against future lawsuits. The judge said he would explain his decision in a hearing on Tuesday. The deal is among the largest in a series of opioid settlements brought by state and local governments against drugmakers, wholesalers and pharmacies."
A federal bankruptcy court judge will approve Purdue Pharma's latest settlement requiring Sackler family contributions of up to $7 billion over 15 years, with some funds designated for victims of the opioid crisis. The agreement replaces a prior pact the US Supreme Court rejected for improperly shielding family members from future lawsuits. The settlement ranks among the largest state and local opioid resolutions and could substantially conclude long-running litigation tied to hundreds of thousands of overdose deaths. Purdue filed for bankruptcy six years ago amid claims that ballooned into the trillions, and legal participants largely urged approval of the plan.
Read at www.aljazeera.com
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