The attorneys general from all 50 states, Washington, DC, and four US territories have reached a significant agreement with Purdue Pharma, the maker of OxyContin. This deal involves a $7.4 billion settlement aimed at addressing the opioid crisis that has devastated many communities across the country. The announcement was made on Monday, led by New Jersey Attorney General Matthew Platkin.
Platkin emphasized that while no amount of money can undo the suffering caused by the opioid epidemic, this settlement will provide essential resources for education, prevention, and treatment. He stated, "The Sacklers put greed and profit over human lives," and confirmed that the family behind Purdue Pharma will no longer be allowed to sell these drugs in the U.S.
This settlement is designed to resolve thousands of lawsuits against Purdue Pharma. Most of the funds will be distributed within the first three years, benefiting individuals, state and local governments, and Native American tribes. The Sackler family will relinquish control of the company as part of the agreement.
Notably, Oklahoma is not included in this settlement, as it had reached its own $270 million agreement with Purdue in 2019. Platkin mentioned that members of the Sackler family have agreed to proceed with the settlement.
In addition to compensating victims, the settlement will fund addiction treatment and recovery programs over the next 15 years. Platkin’s office described this as the largest settlement in the U.S. with individuals responsible for the opioid crisis.
Purdue Pharma has faced backlash for its role in the opioid epidemic, having aggressively marketed OxyContin while downplaying its addictive nature. The company described the settlement as a "milestone" and a crucial step toward providing financial support for victims and combating the opioid crisis.
The U.S. Supreme Court previously rejected an earlier settlement that would have granted the Sacklers broad immunity from civil lawsuits related to opioids. Since 1999, more than 850,000 people have died from opioid overdoses, although recent trends show a decline in such deaths.