As part of a six billion dollar opioid settlement by the makers of Oxycontin, the Sackler family will be shielded from lawsuits. Rather than being held personally responsible for the effects of the opioid epidemic, instead, the company Purdue Pharma will pay billions of dollars over time.
What Is The Sackler Settlement For?
The 2nd U.S. Circuit Court of Appeals in New York affirmed the plan last Tuesday. Under this new agreement, members of the Sackler family give up ownership of Purdue Pharma. Purdue will now be called Knoa. The drugmaker’s profits are being sent to a fund to prevent and treat addiction.
In addition to giving up Purdue, members of the Sackler family will give $5.5 billion to $6 billion in cash over time to make up for the effects of the opioid epidemic. Over time, they’re expected to …