Purdue Pharma, US states agree to new opioid settlement

OxyContin maker Purdue Pharma reached a settlement Thursday over its role in the opioid crisis that includes virtually all U.S. states and thousands of local governments, with the Sackler family members who own the company boosting their cash contribution to as much as $6 billion.

The deal follows an earlier settlement that had been appealed by eight states and the District of Columbia. They agreed to sign on after the Sacklers kicked in more cash — including a portion that just those jurisdictions would control — and accepted other terms. In exchange, the family would be protected from civil lawsuits.

In all, the plan could be more than $10 billion over time. It calls for members of the Sackler family to give up control of the Stamford, Connecticut-based company so it can be turned into a new entity with profits used to fight the crisis. The deal would not shield members of the family from criminal charges, though there’s no indication any are forthcoming.

Sackler family members have not unequivocally offered an apology, though they issued a new statement of regret about the toll of OxyContin. And victims are to have a forum, by videoconference, in court to address Sackler family members — something they have not been able to do in a public setting.

The settlement, outlined in a report filed in U.S. Bankruptcy Court in White Plains, New York, still must be approved by a judge.

“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," the family statement reads. "The families have consistently affirmed that settlement is by far the best way to help solve a serious and complex public health crisis. While the families have acted lawfully in all...