The Sacklers Want to Settle

For months, Purdue Pharma has been negotiating a $10-12 billion settlement that would resolve some 2,000 lawsuits against the company, NBC News reported yesterday—a day after a landmark ruling against Johnson & Johnson for its role in Oklahoma’s opioid crisis.
 
Under the deal, the company would declare bankruptcy and restructure into a “public benefit trust” that would include $4 billion in drugs, such as those used to reverse overdoses.
 
The Sacklers would cede control of the family firm and personally shell out $3 billion in settlement funds, The Washington Post reports.
 
Purdue’s profits from any drugs—including OxyContin and a new opioid treatment being fast-tracked by the FDA—would be funnelled to cities, counties and states.
 
The US has spent over $504 billion responding to the opioid crisis; Purdue raked in $35 billion from OxyContin sales, NBC noted.  

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