A member of the family that owns OxyContin maker Purdue Pharma has told a court that the family will not contribute billions of dollars to abate the U.S. opioid crisis unless it is granted protection from current and future lawsuits.
David Sackler, grandson of one of the brothers who nearly 70 years ago bought the company that later became Purdue, testified at a hearing in federal bankruptcy court in White Plains, New York, that unless the settlement is approved with those protections included, as they currently are, “I believe we would litigate the claims to their final outcomes.”
The concept has sparked protests, as well as federal legislation known as the SACKLER Act that would bar these deals, known as third-party releases. They are granted by bankruptcy courts in some parts of the U.S., but not all. The bill has sputtered in Congress. The Purdue reorganization plan does have costs for Sackler family members. They would be required to give up ownership of the company, with future profits going to abate the opioid crisis. They would also have to contribute a total of $4.5 billion in cash and a charitable fund over time. That money is also slated to go to efforts to battle the crisis, with a share of it going to victims and their families.
Sackler, who also testified before a congressional committee late last year, stopped short both then and Tuesday of an apology for the family or company’s role in the opioid crisis, which has been linked to more than 500,000 deaths in the U.S. alone since 2000. Family members have long taken a low profile in the business world but a public role in philanthropy. Amid protests over its role in the opioid business, it has seen its name removed in recent years from wings and galleries at institutions including the Louvre in Paris. New York’s Metropolitan Museum of Art is reviewing the matter.
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