US EditionJudge Approves Purdue Pharma Settlement with Sackler Family Over Opioid Lawsuits
- On Friday, U.S. Bankruptcy Judge Sean Lane said he will approve Purdue Pharma’s latest settlement requiring members of the Sackler family to contribute up to $7 billion and relinquish ownership.
- About a decade ago, lawsuits against Purdue Pharma began, seeking accountability for an opioid crisis linked to about 900,000 U.S. deaths since 1999, and grew into a lengthy legal battle.
- For individuals, about $850 million is set aside, including more than $100 million for children born with opioid withdrawal, and people have until the March 1 deadline to apply and waive lawsuits against the Sackler family.
- Most settlement funds will be directed to state and local governments, which may receive full allocations over up to 15 years, while individual victims’ payments are slated for next year and no tracking mechanism exists.
- The settlement positions the deal among the largest opioid resolutions, involving about $50 billion in settlements, renaming Purdue Pharma to Knoa Pharma under new overseers with non‑financial restrictions and company documents to be made public.
162 Articles
162 Articles
Judge to approve opioid deal with Purdue, Sacklers
NEW YORK — A federal bankruptcy court judge on Friday said he will approve OxyContin-maker Purdue Pharma's latest deal to settle thousands of lawsuits over the toll of opioids that includes some money for thousands of victims of the epidemic.
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Purdue Pharma to be dissolved as US judge says to approve bankruptcy
OxyContin maker Purdue Pharma, blamed for helping to fuel a deadly opioid crisis, said Friday that a US bankruptcy judge will sign off on a deal to settle thousands of lawsuits against the company, which will cease to exist.
Richmond advocates celebrate $7 billion Purdue Pharma opioid settlement
RICHMOND, Va. (WRIC) -- Richmond advocates are celebrating the monumental opioid settlement reached with OxyContin maker Purdue Pharma on Friday. On Friday, Nov. 14, a federal bankruptcy court judge approved a settlement agreement in which Purdue Pharma, maker of the opioid OxyContin, will have to contribute up to $7 billion over a period of 15 years, according to the Associated Press. About $850 million of this settlement will go directly to in…
The judge of the New York Bankruptcy Court Sean H. Lane has assured this Friday that he will approve the resolution plan of Purdue Pharma, the pharmaceutical that represents as few the abuses of the sector in the crisis of the opioids by the aggressive commercialization of its analgesic OxyContin as if it were not addictive. The restructuring allows the company, owned by the Sackler family, to leave the bankruptcy situation and prepare for its d…
Judge says he’ll approve opioid settlement with OxyContin maker Purdue and Sackler family
A federal bankruptcy court judge on Friday said he will approve OxyContin-maker Purdue Pharma’s latest deal to settle thousands of lawsuits over the toll of opioids that includes some money for thousands of victims of the epidemic.
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