Purdue Pharma has finalized a $7.4 billion settlement with the Sackler family in response to the ongoing opioid crisis, providing crucial funds for victims and crisis alleviation efforts.
Purdue Pharma and Sackler Family Pen $7.4 Billion Settlement in Opioid Crisis
Purdue Pharma and Sackler Family Pen $7.4 Billion Settlement in Opioid Crisis
Major legal breakthrough as Purdue Pharma and the Sackler family agree to historic settlement over OxyContin-related claims.
Purdue Pharma, along with the Sackler family—the owners of the company—has announced a significant settlement amounting to $7.4 billion (£6 billion) to resolve claims linked to its notorious prescription painkiller, OxyContin. This agreement comes as an improvement of over $1 billion from a prior settlement that the US Supreme Court rejected in 2024.
Under the current settlement structure, the Sacklers will contribute up to $6.5 billion, while Purdue Pharma will pay $900 million. The release of OxyContin has been largely implicated in exacerbating the opioid epidemic in the United States, often serving as a gateway drug leading to more dangerous substances, such as heroin.
Purdue Pharma expressed satisfaction with the settlement, stating, "We are extremely pleased that a new agreement has been reached that will deliver billions of dollars to compensate victims, abate the opioid crisis, and deliver treatment and overdose rescue medicines that will save lives." However, the settlement is pending court approval, and several aspects remain to be finalized.
As reported by AP, this settlement is poised to be one of the largest in a series of litigation efforts aimed at holding pharmaceutical companies accountable for their role in the widespread opioid crisis. The federal government, under President Donald Trump, is not anticipated to oppose this agreement, as per news reports.
Connecticut Attorney General William Tong remarked on the importance of the settlement for those affected by the opioid crisis, asserting, "It's not just about the money. There is not enough money in the world to make it right." Since the launch of OxyContin in 1999, opioid-related deaths in the United States have surged to tens of thousands each year, prompting serious concerns about the family's actions.
Court documents reveal that the Sackler family was aware of the potential legal implications surrounding OxyContin but proceeded to withdraw approximately $11 billion from the company within the ten years leading up to its bankruptcy. Much of this wealth was reportedly transferred overseas, complicating recovery efforts for impacted individuals and communities.
