Sacklers boost Purdue Pharma settlement to $4.3 billion in plan that would end their control of the opioid maker
In a move that could spell the end of Purdue Pharma, the company has filed a bankruptcy plan calling for the family that owns the infamous drug maker to relinquish control and pay nearly $4.3 billion to reimburse states, cities, and tribes for the costs associated with the long-running opioid crisis in the U.S.
The plan, which was filed late Monday night in a federal bankruptcy court in New York, is designed to end nearly 3,000 lawsuits that blamed Purdue for helping to spark a wave of prescription abuse, addictions, and deaths over the past two decades. The litigation accused the company of downplaying the addiction risks of its OxyContin painkiller and improperly encouraging overprescribing by physicians.
