Sacklers Agree To Pay $6 Billion To Settle Purdue Pharma Bankruptcy
Sackler family members — who own Purdue Pharma and profited from its sales of OxyContin — agreed to increase their payout in opioid-related lawsuits to $6 billion in order to close out the company's bankruptcy plan. The family also issued a statement of regret, though future liability may continue to be a sticking point before the deal is finalized.
The Wall Street Journal:
Purdue’s Sacklers, States Reach Opioid Deal Valued At Up To $6 Billion
Members of the Sackler family who own Purdue Pharma LP and grew wealthy from sales of OxyContin agreed to pay up to $6 billion to settle lawsuits accusing them of helping fuel the opioid-addiction epidemic, earning the unanimous support of state attorneys general to resolve the family’s liability and end the drugmaker’s bankruptcy case. The new settlement unveiled Thursday marks an increase from the $4.5 billion previously offered by the Sacklers, whose wealth has been estimated at roughly $11 billion. For the first time, the proposed deal has the support of a key group of state attorneys general who had opposed Purdue’s earlier efforts to resolve opioid-related liability, saying the Sacklers weren’t paying enough to fight opioid addiction and deter corporate wrongdoing. (Randles, 3/3)
Stat:
Sacklers Agree To $6 Billion Purdue Bankruptcy Settlement Over Opioid Crisis
The settlement calls for the payout to be spread over 18 years, with larger initial installments. The amount of compensation for individuals – ranging from $3,500 to $48,000 – does not appear to be changing. As part of the arrangement, the Sacklers issued a statement regretting their role in the crisis to the victims — including people who developed opioid use disorder or lost loved ones to overdoses — and may be required to do so at a court hearing. It is a notable step, given that the Sacklers spurred outrage when they denied responsibility for the opioid crisis during congressional hearings. (Silverman, 3/3)
AP:
Purdue Pharma Deal Has Families Deflated, Angry But Hopeful
For those who lost loved ones in the opioid crisis, making sure the family behind OxyContin maker Purdue Pharma paid a price was never just about money. What many wanted was a chance to confront the Sackler family face to face, to make them feel their pain. While some may get that chance — at least by video — under a tentative settlement reached Thursday that also would force the Sacklers to pay out billions, the families still are coming away feeling empty, conflicted and angry yet again. There’s a bit of hope mixed in, too. (Weewer and Collins, 3/4)
In related news about the opioid crisis —
AP:
West Virginia Sees Slight Decline In Overdose Deaths
After facing an uptick in overdose deaths during the start of the COVID-19 pandemic, health officials in West Virginia are cautiously optimistic that numbers are on the decline. From January 2019 to January 2020, West Virginia saw 869 overdose deaths, according to data released by the Centers for Disease Control. That number rose to 1,510 between April 2020 to April 2021. (3/4)
Philadelphia Inquirer:
Philly Residents In Areas Affected By Overdoses Want A Say In Talks Over A Supervised Injection Site
Several dozen people gathered outside the U.S. Attorney’s Office in Philadelphia on Wednesday afternoon to protest talks between the Department of Justice and advocates who hope to open a supervised injection site in the city. Last month, the Justice Department signaled that it may be considering a change in its position on the sites, where addicted people can use drugs under medical supervision and be revived if they overdose. Under the Trump administration, the local U.S. Attorney’s Office battled in court to block the opening of Safehouse, the nonprofit formed in 2018 to open a site. But now, the department says it’s “evaluating” such facilities and discussing “appropriate guardrails” with stakeholders. (Whelan, 3/3)
WSB-TV Channel 2 - Atlanta:
More Dangerous Meth Made In ‘Super Labs’ Most Used Drug In Atlanta
It’s cheap, strong, and the most-used drug in metro Atlanta, but it’s not opioids. It’s meth, but not the same kind of meth that people used 20 years ago. Channel 2 Investigative Reporter Justin Gray learned it’s made differently in ‘super labs,’ and it’s even more dangerous. “And I knew the very first time I ever did it, I was in trouble,” said Deena Davis, who first tried meth in her early 20s.“I just knew I liked it way more than I was supposed to,” said Davis. (Gray, 3/3)
