Historic Settlement in Opioid Crisis

In a groundbreaking move, the Sackler family, owners of Purdue Pharma, have reached a settlement to pay up to $7.4 billion over 15 years for their role in the opioid crisis. This settlement marks a significant step towards addressing the devastation caused by opioid addiction across the United States.

Details of the Settlement

The agreement stipulates that the Sackler family will contribute up to $7.4 billion, with an initial payment of $1.5 billion to be made within the first three years. A portion of these funds will directly benefit the victims of the opioid crisis. Additionally, the Sackler family will relinquish ownership of Purdue Pharma, which will then be restructured into a new entity overseen by a board appointed by the plaintiffs.

Legal Hurdles Overcome

This settlement comes after the United States Supreme Court previously blocked a $6 billion agreement last year. The new agreement, pending court approval, represents a significant increase in compensation and a step forward in holding Purdue Pharma accountable for its role in the opioid epidemic.