Sacklers win immunity from opioid lawsuits as Purdue Pharma is dissolved in bankruptcy settlement
The long-running battle involving the Sackler family, owners of Purdue Pharma, and lawsuits over their role in the opioid epidemic drew to a close Wednesday, with the company dissolved and the Sacklers absolved from liability.
A bankruptcy court in southern New York approved the settlement deal, which came after much consternation from critics saying it didn’t go far enough in holding the Sacklers accountable. The family will pay about $4.5 billion over the next nine years in exchange for the protections, and Purdue Pharma will be transformed into a public benefits company aimed at fighting the opioid crisis that has led to more than 500,000 deaths in the US.
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