The owners of Purdue Pharma — including members of the Sackler family — have reached a tentative settlement agreement in thousands of lawsuits over what accusers say is misleading marketing of OxyContin that’s been partly responsible for the US opioid crisis, the New York Times reported September 11.
State attorneys general had previously asked the Sacklers to pay $4.5 billion, according to NPR.
Purdue’s accusers claim the company’s misleading advertising helped ignite America’s opioid crisis, Business Insider previously reported.
Sales of OxyContin helped the family build a $13 billion fortune.
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The Sacklers — one of America’s most controversial families — have tentatively agreed to pay out of pocket to resolve thousands of lawsuits against the family business, OxyContin-maker Purdue Pharma, according to The New York Times.
The tentative settlement requires the Sacklers to pay $3 billion of their own fortune in cash over the next seven years, The Times reported.
Purdue Pharma will likely file for bankruptcy and be split into separate companies, two people involved in the negotiations told The Times. A new company will continue to sell OxyContin, with all proceeds benefiting …read more
Source:: Businessinsider – Life