Maker of OxyContin set to dissolve after judge approves criminal sentence
Summary
Purdue Pharma, the maker of the painkiller OxyContin, will be dissolved and replaced by a new company focused on public benefits as part of a large legal settlement. The settlement resolves thousands of lawsuits tied to the opioid crisis, including a guilty plea and a payment plan involving the Sackler family.Key Facts
- Purdue Pharma has pleaded guilty and agreed to pay fines and penalties totaling $8.3 billion.
- The federal government will collect $225 million due to a negotiated deal related to other lawsuits.
- The Sackler family, owners of Purdue Pharma, will contribute up to $7 billion over 15 years.
- Most settlement money will go to government groups to fight the opioid crisis.
- Payments to individual victims are expected to be between $8,000 and $16,000.
- The total worth of all settlements is more than $50 billion.
- The opioid crisis has been linked to over 900,000 deaths in the U.S. since 1999.
- Many affected families shared their stories in court but some asked the judge to reject the plea deal, seeking further justice.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.