The Supreme Court on Thursday blocked opioid maker Purdue Pharma’s bankruptcy settlement which would have provided immunity to the Sackler family from facing lawsuits over their role in the opioid crisis.
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The former president and board chair of Purdue Pharma testified in court on Wednesday that he, his family and the company are not at fault for the opioid crisis, CBS News reported.
Richard Sackler, 76, who is a member of the family that owns the OxyContin maker, denied responsibility at a White Plains, New York, bankruptcy hearing, CBS News reported.
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A coalition of 15 states agreed to a deal with drug maker Purdue Pharma, which could soon lead to a $4.5 billion settlement over the company’s role in the U.S. opioid epidemic.
The states agreed to no longer oppose Purdue Pharma’s bankruptcy plan while the pharmaceutical company agreed to publicly release a trove of millions of documents, according to a court filing late Wednesday night. The Sackler family, which owns the company, would pay an additional $50 million under the settlement.
The agreement will be tacked onto a broader proposal that is set to be voted on by more than 3,000 plaintiffs, The New York Times reported. In addition to the states, plaintiffs include cities, counties and tribes that sued the company over its role in boosting its painkiller OxyContin, the cause of thousands of opioid deaths.
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Purdue Pharma, the company that makes OxyContin, the powerful prescription painkiller that experts say helped touch off an opioid epidemic, will plead guilty to three federal criminal charges as part of a settlement of more than $8 billion, Justice Department officials announced Wednesday.
The company will plead guilty to three counts, including conspiracy to defraud the United States and violating federal anti-kickback laws, the officials said. The resolution will be detailed in a bankruptcy court filing in federal court.
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Purdue Pharma and its owners, the Sackler family, reportedly offered between $10 billion and $12 billion to settle lawsuits over its role in the opioid crisis, during a meeting with at least 10 state attorneys general last week.
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