Purdue Pharma Proposes $7.4 Billion Settlement to Address Opioid Crisis Lawsuits
The plan includes up to $7 billion from the Sackler family, creditor opt-in options, and the creation of a public benefit company to combat opioid-related harms.
- Purdue Pharma's new bankruptcy plan offers a $7.4 billion settlement, with $6.5 to $7 billion contributed by the Sackler family over 15 years.
- The plan allows creditors to opt in for payments or opt out to retain the right to sue the Sackler family, addressing prior legal objections.
- The settlement includes $850 million for individual victims of the opioid crisis, including those addicted to OxyContin and babies born with withdrawal symptoms.
- Purdue Pharma will be dissolved and replaced by a public benefit company focused on producing low-cost naloxone and addressing the opioid crisis.
- The plan requires creditor votes beginning in May and final approval from a bankruptcy judge, with implementation expected in the following months.
Forbes 
