$7.4 Billion in Opioid Settlement Reached with Purdue Pharma, Sacklers

All 50 states, the District of Columbia, and U.S. territories have approved a $7.4 billion settlement with Purdue Pharma, maker of OxyContin, over the company's improper marketing of opioids, NPR’s Brian Mann reported on June 16.

If the plan is finalized, it will add to more than $50 billion in opioid payouts by corporations that profited from the manufacture, distribution, and retail of opioid painkillers. Although the Sackler family, owners of the company, have said repeatedly that they did nothing wrong and committed no crimes, they are expected to contribute roughly $6.5 billion, Mann noted. Payouts would occur over the next 15 years.

A framework for the settlement had been announced in January by New York Attorney General Letitia James and other states, and the support announced on Monday could help Purdue Pharma win court approval for its bankruptcy reorganization, Reuters’ Johnathan Stempel wrote.

The $7.4 billion payment is intended to resolve claims that the drugmaker's pain medication, OxyContin, caused a nationwide opioid addiction crisis.