By John Meyer, consultant in financial affairs – Eurasia Business News, January 23, 2025. Article No 1394.

Purdue Pharma and the Sackler family have reached a landmark $7.4 billion settlement with a coalition of 15 states, announced on January 23, 2025. This settlement addresses their role in the opioid crisis, particularly linked to the aggressive marketing and distribution of OxyContin, which has contributed to widespread addiction and overdose deaths across the United States.

Financial Breakdown: The Sackler family will pay $6.5 billion over 15 years, while Purdue Pharma will contribute nearly $900 million upfront, pending court approval. The initial payments include $1.5 billion from the Sacklers, followed by structured payments over the next three years totaling an additional $1.4 billion.

Use of Funds: The settlement funds are designated for opioid addiction treatment, prevention, and recovery programs across affected communities nationwide over the next 15 years. More than half of the funds will be distributed within the first few years.

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Control and Sales Restrictions: The agreement effectively ends the Sackler family’s control over Purdue Pharma and prohibits them from selling opioids in the U.S. This follows a previous Supreme Court ruling that overturned an earlier settlement granting them immunity from future lawsuits.

Transparency Measures: As part of the settlement, over 30 million documents related to Purdue and the Sacklers’ operations will be made public, enhancing accountability and transparency regarding their practices in the opioid market.

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Bipartisan Support: The settlement was negotiated with participation from various state attorneys general, reflecting a bipartisan effort to address the opioid epidemic that has devastated communities across the country.

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Joining Texas Attorney General Paxton in securing the settlement in principle are the attorneys general of California, Colorado, Connecticut, Delaware, Florida, Illinois, Massachusetts, New York, Oregon, Pennsylvania, Tennessee, Vermont, Virginia, and West Virginia.

This settlement represents the largest financial resolution connected to individuals implicated in the opioid crisis to date and aims to provide significant resources for combating addiction and supporting recovery efforts nationwide.

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© Copyright 2025 – Eurasia Business News. Article no. 1394.