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Judge to explain why he's approving Purdue Pharma settlement plan, which calls for $7B from Sacklers
Sackler family will pay up to $7 billion over 15 years, including $850 million to victims, as Purdue Pharma is replaced by a public-benefit company to address opioid harms.
- The Sackler family agreed to pay up to $7 billion over 15 years as part of a settlement, with Judge Sean Lane stating this plan is among the largest opioid settlements ever and will compensate some victims of the crisis.
- The funds will be mostly used to address the opioid crisis, with about $850 million allocated for individual victims who can prove they were prescribed OxyContin, with payments ranging from $8,000 to $16,000 based on specific criteria.
- A new company, Knoa Pharma, will replace Purdue Pharma, managed by a board appointed by states, aiming to benefit the public.
- The settlement includes provisions for Sackler family members to give up ownership of Purdue and to refrain from having their name placed on institutions in exchange for contributions.
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Judge approves $7B opioid settlement for Purdue Pharma and Sackler family members who own the company
A bankruptcy court judge has approved the settlement of thousands of lawsuits against Purdue Pharma, maker of the powerful prescription painkiller OxyContin.
·Connecticut, United States
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Daily Journal+6 Reposted by 6 other sources
Judge formally approves Purdue Pharma opioid settlement, with Sacklers paying up to $7B and some funds going to victims
Judge formally approves Purdue Pharma opioid settlement, with Sacklers paying up to $7B and some funds going to victims.
·Cherokee County, United States
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Judge to Explain Why He's Approving Purdue Pharma Settlement Plan, Which Calls for $7B From Sacklers
A U.S. Bankruptcy Court judge is set to give his reasoning Tuesday for approving OxyContin maker Purdue Pharma's plan to settle thousands of lawsuits over the toll of opioids.
·New York, United States
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Associated Press News+45 Reposted by 45 other sources
Judge to explain why he's approving Purdue Pharma settlement plan, which calls for $7B from Sacklers
A judge is set to explain why he's approving a plan for OxyContin maker Purdue Pharma to settle thousands of lawsuits over the toll of opioids. U.S.
·United States
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Total News Sources60
Leaning Left13Leaning Right4Center36Last UpdatedBias Distribution68% Center
Bias Distribution
- 68% of the sources are Center
68% Center
L 24%
C 68%
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