The Sackler Family Has Agreed to $6 Billion Purdue Bankruptcy Settlement

The Sackler family, owners of Purdue Pharma, have agreed to a $6 billion bankruptcy settlement. The funds would compensate state governments and some individuals affected directly by the opioid crisis that was kickstarted and exacerbated by the introduction and deceptive marketing of their drug Oxycontin. The deal also requires them to admit responsibility, an action they’d yet to take until this point.

Additionally, according to Ed Silverman of STAT News, “The deal also requires the Sacklers to allow institutions to remove the family name from buildings, scholarships, and fellowships. This builds on the growing list of universities, museums, and other institutions have disassociated themselves from the family in response to OxyContin marketing that sullied the family name.”

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(Source: STAT News, March 3^rd 2022)