$4.5 Billion Settlement, Between Purdue Pharma and 15 States Looms. The agreement between the OxyContin maker and the states has the potential to close thousands of cases related to the deadly opioid.
Under the agreement, Purdue Pharma can continue with bankruptcy proceedings... .
... in exchange for an extra $50 million to be paid out by the Sackler family, the owners of the drug manufacturer.
For nearly two years, since Purdue Pharma declared bankruptcy, the company and the Sackler family have used every delay tactic possible and misused the courts.., Letitia James, NY Attorney General, via 'The New York Times'.
... all in an effort to shield their misconduct, Letitia James, NY Attorney General, via 'The New York Times'.
While this deal is not perfect, we are delivering $4.5 billion into communities ravaged by opioids on an accelerated timetable... , Letitia James, NY Attorney General, via 'The New York Times'.
... and it gets one of the nation’s most harmful drug dealers out of the opioid business once and for all, Letitia James, NY Attorney General, via 'The New York Times'.
The Sackler family would be required to make payouts over the course of nine years.
The 15 states who have agreed to the deal are Colorado, Hawaii, Idaho, Illinois, Iowa, Maine, .
Massachusetts, Minnesota, Nevada, New Jersey, New York, North Carolina, Pennsylvania, Virginia and Wisconsin.
The Connecticut attorney general referred to the plan as "far from justice," and vowed to "continue to fight this bankruptcy plan.".
This deal alarmingly allows the Sacklers to still walk away with their personal wealth intact, and now allows funds already intended for charity to be included in this deal, William Tong, CT attorney general, via 'The New York Times'.
More than 500,000 Americans have died from opioid overdoses over the past 20 years