Summary
A federal bankruptcy judge plans to approve a settlement deal with Purdue Pharma, the maker of OxyContin, to resolve thousands of lawsuits related to the opioid crisis. The settlement involves the Sackler family providing up to $7 billion over 15 years, with funds going to victims. This deal replaces an earlier one rejected by the US Supreme Court.
Key Facts
- A bankruptcy judge is set to approve a settlement concerning Purdue Pharma and the Sackler family.
- The Sackler family will contribute up to $7 billion over 15 years.
- Money from the settlement will go to victims of the opioid crisis.
- The deal replaces a previous one rejected by the US Supreme Court last year.
- The new agreement allows entities who don’t opt in to sue the Sackler family.
- The deal addresses a series of lawsuits brought by governments against drug companies over opioids.
- Over 54,000 personal injury victims voted on the plan, with only 218 voting against it.
- Lawyers and government groups largely support the bankruptcy plan, although some individuals oppose it.
