Purdue Pharma expected to forfeit $225m as sentence in criminal opioids case
Summary
Purdue Pharma is set to pay $225 million to the US government as part of a deal resolving lawsuits about its role in the opioid crisis. The settlement also requires the Sackler family, owners of Purdue, to pay up to $7 billion over 15 years to help fight the opioid epidemic and compensate victims.Key Facts
- Purdue Pharma will forfeit $225 million to the US justice department as a criminal penalty.
- This penalty is part of a 2020 agreement to settle federal investigations into the company's role in the opioid crisis.
- The Sackler family will contribute up to $7 billion over 15 years to state, local, and tribal governments and some victims.
- Purdue admitted it failed to prevent its opioid painkillers from being sold illegally and promoted higher prescriptions through paid programs.
- As part of the deal, Purdue Pharma will be replaced by a new company called Knoa Pharma, focused on public benefit.
- The Sackler family will be protected from future lawsuits if they comply with the settlement terms.
- Purdue and the Sacklers have paid over $1 billion in legal fees during the case, with many victims supporting the settlement.
- The opioid crisis in the US has been linked to around 900,000 deaths since 1999.
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