Purdue Pharma, maker of OxyContin, set to dissolve after judge approves its criminal sentence
CBS News • • nation
Key Points:
- Purdue Pharma, maker of OxyContin, is set to be dissolved and replaced by a public-benefit company as part of a legal settlement resolving thousands of opioid-related lawsuits.
- The settlement includes an $8.3 billion fine and forfeitures, with the Sackler family agreeing to contribute up to $7 billion over 15 years, primarily to government entities to combat the opioid crisis.
- Despite the settlement, Purdue's guilty plea does not include restitution to victims, and payments to individual victims are expected to range from $8,000 to $16,000.
- Families affected by the opioid epidemic have voiced their grief and anger, with many urging the judge to reject the plea deal and call for further prosecution.
- The opioid crisis linked to Purdue's products has caused over 900,000 deaths since 1999, and the total settlements exceed $50 billion, aimed mainly at addressing the ongoing overdose epidemic.
