Sackler family and states agree to $6B Purdue Pharma settlement
Members of the Sackler family who own Purdue Pharma have reached a deal with U.S. states to pay as much as $6 billion in cash to end widespread litigation against the OxyContin maker over its role in the nation's opioid epidemic.
Why it matters: The deal, which was announced on Thursday but still must be approved by a judge, would give states and local governments billions of dollars for treatment programs.
Catch up quick: An earlier settlement, which would have required the Sacklers to pay $4.5 billion, was rejected by a federal judge in December after eight states and Washington, D.C., fought against the deal.
Details: The eight states and D.C. agreed to the new settlement after more cash was given and other terms, including an apology, were accepted, per AP.
- In exchange, the Sacklers would be protected from further civil lawsuits.
What they're saying: "The Sackler families are pleased to have reached a settlement with additional states that will allow very substantial additional resources to reach people and communities in need," according to a statement in the court filing.
- "While the families have acted lawfully in all respects, they sincerely regret that OxyContin, a prescription medicine that continues to help people suffering from chronic pain, unexpectedly became part of an opioid crisis that has brought grief and loss to far too many families and communities," they added.