Purdue and Sackler family agree to $7.4 billion OxyContin settlement

Purdue Pharma and the Sackler family who control it have agreed to pay up to $7.4bn (£6bn) to settle claims over its powerful prescription painkiller OxyContin.

The settlement represents an increase of more than $1 billion over a previous settlement this was rejected by the US Supreme Court in 2024According to AP and Reuters news agencies.

Under the terms of the settlement, the Sacklers agreed to pay $6.5 million and Purdue to pay $900 million.

Oxycontin, often a gateway drug to harder drugs like heroin, has been blamed for fueling America’s deadly opioid crisis and netting the Sackler family billions of dollars.

“We are very pleased to have reached a new agreement that will provide billions of dollars to compensate victims, alleviate the opioid crisis, and provide life-saving treatment and overdose rescue drugs,” Purdue said in a statement.

The settlement still needs court approval, and some details are unclear, but the AP says it is one of the largest settlements reached in a series of lawsuits seeking to hold local, state, Native American tribal governments and companies accountable. for the deadly epidemic.

Under President Donald Trump, the federal government has no plans to oppose the new deal, according to the AP.

Connecticut Attorney General William Tong told Reuters the settlement would help provide closure to victims of the opioid crisis.

“It’s not just about the money,” Tong said. “There is not enough money in the world to do this well.”

Since 1999, just a few years after the drug became available, opioid overdose deaths have reached tens of thousands each year.

Court filings say the Sackler family had long been aware of the legal risks, siphoning off about $11 billion from the company in the decade before bankruptcy. Much of the money was stashed abroad, while some was used to pay corporate taxes, making recovery difficult.