Aug 27, 2019

Purdue Pharma reportedly offers $10 billion to settle opioids lawsuit

Protestors demonstrate in front of the Louvre against the French museum's ties to the Sackler family. Photo: Stephane de Sakutin/AFP/Getty Images

Purdue Pharma and its owners, the Sackler family, have proposed a settlement in the nationwide opioids lawsuit that would be worth $10 billion–$12 billion, NBC News reports.

Why it matters: Purdue is the focal point of this litigation, but the proposed settlement would amount to only a fraction of what the opioid epidemic has cost the U.S. — and only about a third of Purdue's OxyContin sales.

The big picture: The total settlement would include donations of life-saving anti-overdose drugs and the proceeds from the sale of other drugs. The Sacklers would also sell off a separate business to contribute another $3 billion. The family is worth an estimated $13 billion, and Purdue made more than $35 billion from OxyContin sales, per NBC.

Go deeper: Why the first opioids lawsuit verdict is both big and small

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Police officers wearing riot gear push back demonstrators outside of the White House on Monday. Photo: Jose Luis Magana/AFP via Getty Images

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The latest: Seattle police declared a riot late Monday, tweeting: " Crowd has thrown rocks, bottles and fireworks at officers and is attempting to breach barricades one block from the East Precinct."

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Screenshot of an image some Facebook employees used as part of their virtual walkout on Monday.

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Screenshot: Axios (via YouTube)

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Why it matters: Cisco joins Sony, Electronic Arts and Google in delaying tech events planned for this week.