Judge approves Purdue Pharma’s new $7B opioid settlement with the Sacklers
A federal judge officially approved drug maker Purdue Pharma’s latest deal to settle thousands of lawsuits over the toll of the opioid epidemic and pay victims, according to multiple media reports.
U.S. Bankruptcy Judge Sean Lane on Tuesday, Nov. 18 approved OxyContin maker Purdue Pharma’s plan to settle thousands of lawsuits over the harms of the opioids , the AP reported. The judge's decision orders members of the Sackler family, who own the drug-making company, "to contribute up to $7 billion over 15 years."
The move comes on the heels of Reuters reporting last week that the New York-based judge said he would approve a restructuring plan for the drug maker that includes a $7.4 billion settlement.
The deal aims to resolve claims Purdue Pharma fueled the United States opioid epidemic by selling addictive pain meds linked to hundreds of thousands of deaths over the past two decades.
Some of the money will be given to people who had OxyContin prescriptions, as well as their survivors, the outlets reported.
“My heart goes out to all those who have suffered such pain,” Lane said during a hearing Tuesday in United States Bankruptcy Court for the Southern District of New York , the AP reported.
