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Purdue Pharma Opioid Settlement 2021 - Sackler Family To Pay $4.5 Billion To Settle The Nationwide Opioid Crisis Class Action Lawsuit

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Purdue Pharma Opioid Settlement 2021 – Sackler Family To Pay $4.5 Billion To Settle The Nationwide Opioid Crisis Class Action Lawsuit?

Purdue Pharma Enters Into Settlement Agreement With US States Regarding Their Alleged Participation In The Nationwide Opioid Crisis 

Pharmaceutical company Purdue Pharma has agreed to pay up $4.5 billion in a settlement agreement with fifteen states in the United States after being accused of being responsible for fueling a nationwide opioid epidemic with one of their product offerings. 

The settlement agreement came along with Purdue Pharma and its owners, the Sackler family, have announced that they were bankrupt and are moving forward with the necessary legal proceedings scheduled to kick off in bankruptcy court. 

Purdue Pharma To Pay Up $4.5 Billion To U.S. States As Settlement 

According to online reports, besides the payment of $4.5 billion as settlement to different states in the country, Purdue Pharma will release a treasure trove of documents that will help officials understand the opioid crisis raging all over the country. 

Meanwhile, the Sackler family has agreed to distance themselves from the charitable institutions and trust funds in line with the settlement agreement. 

Both Purdue Pharma and the Sackler family was accused by several separate class actions lawsuit of being solely responsible for aggravating the opioid public health crisis in the country through their opioid offering name OxyContin.

Other lawsuits claimed that the two downplayed and purposely misrepresented the risks that came with their opioid drug.

This latest Purdue Pharma Opioid Settlement is separate from the one that was concluded in 2019. This latest iteration will benefit the following states: 

  • Colorado, 
  • Hawaii, 
  • Idaho, 
  • Illinois, 
  • Iowa, 
  • Maine, 
  • Massachusetts, 
  • Minnesota, 
  • Nevada, 
  • New Jersey, 
  • New York, 
  • North Carolina, 
  • Pennsylvania, 
  • Virginia, 
  • Wisconsin.

The states of Massachusetts, Minnesota, and New York have promised to use their share in the settlement agreement to fund their state’s opioid treatment programs. 

About Purdue Pharma

Purdue Pharmaceuticals L.P., or simply called Purdue Pharma in this article, is a pharmaceutical company founded in 1892 by Raymond Sackler. Now headed by its CEO Craig Landau, the company has recorded revenue of $3 billion in 2017, according to publicly verifiable sources. 

Editor’s Note on Purdue Pharma Opioid Settlement 2021:

This feature article discusses the latest class action settlement between several states and Purdue Pharma and the Sackler family to end the litigation that has accused them of having a hand in the nationwide opioid crisis fueled by their actions and one of their products named OxyContin. 

Case Name(s) & No.(s): Purdue Pharma Opioid Settlement 2021

Jurisdiction: Various states all over the country

Products/Services Involved: OxyContin Opioid 

Allegation(s): Purdue Pharma and the Sackler family have been responsible for worsening the United States’ fight against nationwide opioid addiction through their actions. 

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