Opioid crisis settled? US judge grants Sackler family IMMUNITY in $4.5bn bankruptcy deal for OxyContin maker Purdue Pharma | WHAT REALLY HAPPENED

Opioid crisis settled? US judge grants Sackler family IMMUNITY in $4.5bn bankruptcy deal for OxyContin maker Purdue Pharma

Purdue Pharma, the maker of the powerful opioid OxyContin, will be dissolved after a federal judge approved a $4.5 billion settlement deal with the firm’s owners, who will be granted immunity from future lawsuits in exchange.

Judge Robert Drain of the US Bankruptcy Court in White Plains, New York authorized the settlement on Wednesday, forcing the Sackler family – which owns Purdue – to shell out more than $4 billion and dissolve the company after a flurry of lawsuits linked to OxyContin and its role in America’s opioid crisis.

“This is a bitter result,” Drain said of the deal, which released the Sacklers from future liability in opioid-related civil cases. The judge noted that Purdue’s products had contributed to a “massive public health crisis” that’s led to hundreds of thousands of overdose deaths and a wave of addiction, and voiced frustration that large amounts of the Sacklers’ family fortune is stored in offshore accounts.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA