New York's Attorney General took a jab at the Sackler family and Purdue Pharma while announcing their agreement to pay out a $7.4 billion settlement with 15 states to address their role in the opioid crisis.
For years, Purdue Pharma and the Sackler family faced mounting lawsuits for their aggressive marketing of OxyContin, which has been linked to widespread opioid addiction and fatalities.
The Supreme Court overturned a prior settlement in June 2024, ruling that the Sacklers could not receive immunity from civil lawsuits without filing for personal bankruptcy.
This new agreement increases the Sacklers' financial contribution to $6.5 billion over 15 years, CBS News reported.
Under the terms of the settlement, announced by New York Attorney General Letitia James on January 23, 2025, the Sacklers will pay nearly $3 billion in the first three years, with the remaining funds distributed over the following 12 years.
During the announcement, Attorney General James took a moment to blast the family, stating "no amount of money" could ever make up for the destruction they produced.
"Families throughout New York and across the nation are suffering from the immense pain and loss wrought by the opioid crisis," James said. "The Sackler family relentlessly pursued profit at the expense of vulnerable patients and played a critical role in starting and fueling the opioid epidemic. While no amount of money will ever fully repair the damage they caused, this massive influx of funds will bring resources to communities in need so that we can heal."
Purdue Pharma, which has been in bankruptcy since 2019, will pay $897 million upfront. The funds will be allocated to addiction prevention, treatment, and recovery programs across the United States, targeting the communities most affected by the opioid epidemic.
The deal also permanently bars the Sackler family from selling opioids in the U.S. and removes their control of Purdue, which will now operate under the oversight of a court-appointed board of trustees.
The settlement still requires approval from various claimants, including states, municipalities, Native American tribes, and personal injury victims. If approved, Purdue could emerge from bankruptcy by the end of the year, allowing funds to begin flowing to affected communities.
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