A bipartisan coalition of states has announced a $7.4 billion settlement in principle with Purdue Pharma and its owners, the Sackler family, marking the largest settlement yet with the family accused of fueling the U.S. opioid epidemic.
The agreement, revealed Thursday, ends the Sacklers’ control of Purdue and their ability to sell opioids in the U.S., according to officials involved in the deal. The settlement aims to provide substantial funding for opioid crisis relief efforts, including addiction treatment and overdose rescue medicines.
A Historic Settlement
Under the terms of the settlement, the Sackler family will pay $6.5 billion, while Purdue will contribute nearly $900 million upon court approval. Connecticut Attorney General William Tong called the agreement a major victory in holding the Sacklers accountable.
“This story is about a family of cruel billionaires who believed they were above the law,” Tong said. “Today, we are forcing Purdue Pharma and the Sackler family to pay $7.4 billion for their role in igniting one of the most devastating public health crises in American history.”
