9/1/2021- 7:07 p.m.
Purdue Pharma goes bankrupt — Company dissolved with owners expected to pay whopping $4.5 billion to settle opioid claims.
The manufacturer of OxyContin, was dissolved Wednesday in a wide-ranging bankruptcy settlement which will see the owners, the Sackler family, turn over billions of their fortune to address the opioid epidemic.
▪️A $4.5 billion settlement from Sackler family members, which grants them, as well as Purdue, shields against all civil opioid claims.
▪️The money will mainly go to addiction treatment and prevention programs across the country, which in 2020 saw a record 70,000 opioid overdose deaths last year
▪️The company and the Sacklers agree to make public more than 30 million documents, including confidential emails.
▪️All members of the Sackler family are to get out of the opioid business worldwide.
Since its release in 1996 OxyContin, has been linked to more than 500,000 deaths in the US alone.
