A judge said he is extending legal protections for members of the Sackler family who own OxyContin maker Purdue Pharma by another three weeks to buy time to work out a new settlement to thousands of lawsuits over the opioid crisis
FILE - Purdue Pharma's headquarters stands in Stamford, Conn., on Oct. 21, 2020. A judge said he is extending legal protections for members of the Sackler family, Wednesday, March 2, 2022, who own OxyContin maker Purdue Pharma by another three weeks to buy time to work out a new settlement to thousands of lawsuits over the opioid crisis.
“The mediation appears to me, though I am reading between the lines, to be progressing as Judge Chapman had hoped,” Drain said in the hearing, which lasted eight minutes. Most of the parties suing agreed to a deal last year that would have required members of the Sackler family to contribute $4.5 billion in cash and charitable assets plus give up ownership of Purdue, which would be converted to a new entity dedicating its profits to fighting the opioid crisis. Under the terms, Sackler family members would be protected from current and future civil suits over opioids. Most of the money would be restricted to uses to combat the crisis.
The parents, all residents of states where the attorneys general were previously holding out, said that if the deal falls apart, it could mean there are no other funds earmarked for victims of the crisis. Other opioid settlements, the $26 billion worth of deals finalized last week involving drugmaker Johnson & Johnson and distribution companies AmerisourceBergen, Cardinal Health and McKesson, do not have any provision for payments to victims.
Her son, Zach, a Marine Corps reservist, became addicted after injuring his should during boot camp. When he died in 2017, she said she didn’t have the money to bury him and it took a few years before she could afford a headstone.
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