The 50 states, as well as Washington, DC, and four territories of the United States.
The agreement resolves pending litigation against Purdue Pharma, which, under the leadership of Sackler families, invented, manufactured and commercialized opioid products aggressively for decades, according to the demands. The states and cities throughout the country said they fed waves of addiction and overdose deaths.
General prosecutors in 55 states and territories have signed the historical agreement, who said it will end with the property of Purdue de los Sacklers and will prevent them from doing, selling or marketing opioids in the United States.
California, Colorado, Connecticut, Delaware, Florida, Illinois, Massachusetts, Oregon, Pennsylvania, Tennessee, Texas, Vermont, Virginia and Virginia Occidental directed the team that negotiated the agreement, which marks the major of its type that involves the opioid crises, officials said officials.
“While the families and communities of Pennsylvania suffered during an unprecedented addiction crisis, Purdue and the vacurers obtained the gigantic profits of their products,” said the Attorney General of Pennsylvania, Dave Sunday, in a statement. “This monumental agreement achieves the main priority to obtain as much money as possible as possible for prevention, treatment and recovery programs throughout the Commonwealth. My office will continue to participate with municipal leaders to ensure that millions of dollars reach each corner of the State.”
In this archive photo of February 19, 2013, Oxycontin pills are shown in a pharmacy in Montpelier, vt.
Toby Talbot/AP, file
Purdue presented Oxycontin, an oxycodone brand, in the 1990s and was declared in bankruptcy of Chapter 11 in 2019 after the company was sued thousands of times.
The United States Supreme Court revoked an earlier agreement in June 2024 that would have granted $ 6 billion to state and local governments.
Subsequently, the Sacklers and Purdue increased their settlement contribution to $ 7.4 billion. At that time, Purdue said in a statement to ABC News: “We are extremely happy that a new agreement has been reached that will deliver billions of dollars to compensate for the victims, to reduce the opioid crisis, and provide treatment and an overdose of rescue drug reorganization, what we expect to our creditors in mediation.
The $ 7.4 billion will support the addiction treatment programs, prevention and recovery of opioids in the next 15 years.
A significant amount of the funds will be distributed in the first three years, with the Sacklers paying $ 1.5 billion and Purdue paying approximately $ 900 million in the first payment, followed by $ 500 million after one year, $ 500 million after two years and $ 400 million after three years.
“There will never be enough justice, responsibility or money to restore families whose lives have been destroyed or to correct the terrible consequences of the misconduct of the Sackler family,” said Connecticut Attorney General William Tong in a statement on Monday. “What we announce today is transcendental and insufficient, the culmination of years of tumultuous negotiations and legal battles to the United States Supreme Court.”
Now that the state login period is over, local governments throughout the country will be asked to join the agreement, depending on the approval of the Banking Court. A hearing on that matter is scheduled in the next few days, said general prosecutors.
A Board of Trust selected by the states participating in consultation with other creditors will determine the future of Purdue, which will continue supervised by a monitor and will be avoided that they lobby or market opioids.
