September 19, 2019

Tentative Purdue Settlement Gets Mixed Reactions

On September 11, 2019, Purdue Pharma LP reached a tentative settlement agreement with many of the state and local governments that had sued the company for its alleged role in the nation’s opioid epidemic. As part of the deal, Purdue, and its owners, the Sackler family, have agreed to pay approximately $3 billion, and to restructure the company into a public beneficiary trust which would serve to contribute to addressing opioid addiction. The proposed settlement has had a mixed reception from state attorneys general, with several denouncing the proposal.