Tag: bankruptcy Purdue Pharma

Purdue’s Sacklers Consider Adding Another $1 Billion to Opioid Settlement

Opioid epidemic, painkillers and drug abuse concept with close up on a bottle of prescription drugs and hydrocodone pills falling out of it on white

According to people familiar with the talks, members of the billionaire Sackler family, who own Purdue Pharma LP, are debating whether to add $1 billion to the OxyContin maker’s faltering opioid settlement bid in an effort to win over holdouts. The move would bring the family’s total contribution to $5.325 billion to get a handful… Continue reading Purdue’s Sacklers Consider Adding Another $1 Billion to Opioid Settlement

Judge Overturns Deal Giving Purdue Pharma’s Sackler Family Civil Immunity from Opioid Claims

Three open bottles of prescription medication.

The billionaire Sackler family that created the company could not be released from legal claims over the opioid epidemic, according to a federal judge who has upended the bankruptcy plan of OxyContin maker Purdue Pharma. In a 142-page ruling, U.S. District Judge Colleen McMahon in New York said that the controversial provision to grant the… Continue reading Judge Overturns Deal Giving Purdue Pharma’s Sackler Family Civil Immunity from Opioid Claims