Purdue Pharma to Pay $7.4 Billion to Settle Thousands of Opioid-Related Lawsuits

Cozen O'Connor
Contact
LinkedIn
Facebook
X
Send
Embed

Cozen O'Connor

  • New York AG Letitia James, along with a bipartisan coalition of 15 other state AGs and additional parties, has reached a settlement in principle with members of the Sackler family and Purdue Pharma, Inc., to resolve allegations related to the company’s role in fueling the opioid crisis.
  • According the New York AG’s complaint, Purdue—along with other opioid manufacturers and distributors—contributed to the opioid epidemic by engaging in false and deceptive marketing about the addictiveness of opioids and by failing to prevent the unlawful diversion of controlled substances, violating numerous state laws.
  • Per the AG’s press release, if the settlement is approved by the court, Purdue and members of the Sackler family will pay $7.4 billion, with New York receiving up to $250 million to support opioid treatment and recovery programs. The agreement also mandates continued oversight of Purdue by a monitor and prohibits the company from lobbying or marketing opioids, and establishes a board of trustees—selected by participating states in consultation with other creditors—to determine the company’s future.
  • State AGs have continued to pursue enforcement actions related to the opioid epidemic, including a $272.5 million settlement with Amneal Pharmaceuticals; a lawsuit by Kentucky AG Russell Coleman against a major supermarket chain and its affiliates; a settlement between Alaska AG Treg Taylor and CVS; and two multistate settlements totaling $500 million with Publicis Health, LLC, and Hikma Pharmaceuticals.

Written by:

Cozen O'Connor
Cozen O'Connor
Contact
more
less

PUBLISH YOUR CONTENT ON JD SUPRA NOW

  • Increased visibility
  • Actionable analytics
  • Ongoing guidance

Cozen O'Connor on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign Up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide