Members of the Sackler family, who own Purdue Pharma, have reportedly tentatively reached a settlement with lawyers representing thousands of local governments, states, and tribes across the United States in lawsuits over the drug manufacturer's alleged role in creating the country's opioid crisis. The deal is similar to one the company proposed in August and will eventually result in Purdue, which is expected to soon file for bankruptcy, paying up to $12 billion.
Two people involved in the negotiations told The New York Times that the settlement requires Purdue's dissolution as a company and the formation of a new company that the Sacklers will not control, but that will continue to sell OxyContin — Purdue's signature opioid. The proceeds, however, will reportedly go to a public beneficiary company that will pay the plaintiffs. Purdue will also reportedly donate "rescue" drugs for addiction treatment and overdose reversal. The settlement reportedly does not include a statement of wrongdoing from Purdue or the Sackler family.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
-
Codeword: April 18, 2024The Week's daily codeword puzzle
-
Why au pairs might become a thing of the pastUnder The Radar Brexit and wage ruling are threatening the 'mutually beneficial arrangement'
-
'A direct, protracted war with Israel is not something Iran is equipped to fight'Instant Opinion Opinion, comment and editorials of the day
-
Texas dairy worker gets bird flu from infected cowSpeed Read The virus has been spreading among cattle in Texas, Kansas, Michigan and New Mexico
-
Dengue hits the Americas hard and earlySpeed Read Puerto Rico has declared an epidemic as dengue cases surge
-
US bans final type of asbestosSpeed Read Exposure to asbestos causes about 40,000 deaths in the U.S. each year
-
Tianeptine: why lawmakers fear a new kind of opioidThe explainer The drug is sold over the counter. And is highly addictive.
-
Seattle Children's Hospital sues Texas over 'sham' demand for transgender medical recordsSpeed Read Texas Attorney General Ken Paxton subpoenaed records of any Texan who received gender-affirming care at the Washington hospital
-
Afghanistan has a growing female suicide problemSpeed Read The Taliban has steadily whittled away women's and girls' rights in Afghanistan over the past 2 years, prompting a surge in depression and suicide
-
US life expectancy rose in 2022 but not to pre-pandemic levelsSpeed Read Life expectancy is slowly crawling back up
-
How polysubstance abuse is worsening the American opioid crisisThe Explainer Studies are showing that more Americans are struggling with dependency on multiple substances.
