More states back $7.4 billion Purdue Pharma opioid settlement
More states, territories and Washington, D.C., have signed on to a settlement with drugmaker Purdue Pharma and the Sackler family over the opioid crisis, officials said.
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More states, territories and Washington, D.C., have signed on to a settlement with drugmaker Purdue Pharma and the Sackler family over the opioid crisis, officials said.
The Sackler family will pay the vast majority of the settlement — a total of $6.5 billion over 15 years.
Purdue Pharma, the maker of OxyContin, filed for Chapter 11 bankruptcy protection in September 2019 after it faced scores of lawsuits related to the opioid crisis.
The U.S. Supreme Court will hear oral arguments Monday about the legality of a $6 billion bankruptcy agreement for Purdue Pharma, the manufacturer of OxyContin. While many families of victims support the deal, which would fulfill financial settlements, it would shield the powerful Sackler family from thousands of potential lawsuits. CBS News' Jan Crawford reports.
The Sacklers, major benefactors of the museum, made their fortune as owners of Purdue Pharma.
According to the drugmaker, the Chapter 11 bankruptcy settlement is worth $10 billion and will go towards addressing the opioid crisis.
The state's attorney general filed the nation's most extensive lawsuit against drug makers for allegedly creating the opioid epidemic.
The protest targeted members of the Sackler family who own OxyContin maker Purdue Pharma.
