Purdue Pharma Wins Support From 55 States For $7.4B Deal To Resolve Opioid Lawsuits Tied To OxyContin

Purdue Pharma secured support from attorneys general in 55 U.S. states and territories, according to CNBC. The backing is for a $7.4 billion settlement aimed at resolving thousands of opioid lawsuits tied to its painkiller OxyContin. The agreement, announced Monday, includes $6.5 billion from the Sackler family and $900 million from Purdue. The payout structure is part of Purdue’s Chapter 11 reorganization plan and would direct funds to individuals, governments, and Native American tribes. The Sacklers would relinquish control of Purdue. The U.S. Supreme Court rejected a $6 billion settlement last June that would have granted the Sacklers broad immunity from opioid-related civil lawsuits. More than 850,000 people have died from opioid-related overdoses since 1999, though the CDC reports a recent decline in deaths.