Purdue, Sacklers Reach $7.4B Opioid Settlement

Purdue Pharma and the Sackler family have agreed to a $7.4 billion settlement with all 55 U.S. states and territories to resolve thousands of lawsuits over their role in the opioid crisis, which has caused over 850,000 overdose deaths since 1999. The Sacklers will contribute $6.5 billion and Purdue $900 million, with the Sacklers relinquishing ownership of the company and being barred from opioid sales in the U.S. Settlement funds will be distributed over 10 to 15 years to support addiction treatment, prevention, and recovery efforts nationwide, with state allocations ranging from tens to hundreds of millions of dollars. The deal, which follows years of litigation and a Supreme Court rejection of civil immunity for the Sacklers, is the largest settlement involving individuals tied to the opioid epidemic. Local governments and victims are set to receive direct funding as well. The agreement still requires final approval from the bankruptcy court before distributions can begin.