The suit, brought by 55 attorneys general, will help compensate victims and fund addiction treatment programmes.The attorneys general of all 50 US states, Washington, DC, and four US territories have agreed to a $7.4bn settlement with drugmaker Purdue Pharma, the maker of OxyContin – the pain medication that allegedly fuelled a nationwide opioid addiction crisis in the United States.
The group, led by New Jersey Attorney General Matthew Platkin, announced the deal on Monday.
“While we know that no amount of money can erase the pain for those who lost loved ones to this crisis, this settlement will help prevent future tragedies through education, prevention, and other resources,” Platkin said in a news release.
“The Sacklers put greed and profit over human lives, and with this settlement, they will never be allowed to sell these drugs again in the United States,” Platkin added, referring to the family who owns Purdue Pharma.
The company’s payment is intended to resolve thousands of lawsuits against the drugmaker. The group of attorneys general said most of the settlement funds will be distributed to recipients within the first three years.
Payouts would begin after the drugmaker wins sufficient creditor support for its Chapter 11 bankruptcy plan. Money would go to individuals, state and local governments, and Native American tribes and the Sackler family would cede control of Purdue.
According to several attorneys general, Monday’s agreements do not include Oklahoma, which in 2019 reached a $270m settlement with Pur …
