Credit: JHVEPhoto/Adobe StockStates Reach New $7.4B Opioid Deal With Purdue After SCOTUS Ruling
The deal, announced Thursday, removes nonconsensual releases to the Sackler family, Purdue's founders, which the U.S. Supreme Court had invalidated last year.
January 23, 2025 at 04:37 PM
4 minute read
What You Need to Know
- The Sacklers will pay up to $6.5 billion over a 15-year period, and Purdue will provide $900 million.
- The new settlement will provide $3.1 billion in additional payments than the original 2021 deal.
- On June 27, 2024, the U.S. Supreme Court, in a 5-4 ruling, invalidated the prior $6 billion bankruptcy plan with Purdue.
Attorneys general from 15 states announced on Thursday a new $7.4 billion opioid settlement with Purdue Pharma and its founders, the Sacklers, after the U.S. Supreme Court upended a prior deal.
Under the new agreement, which must be approved by the U.S. Bankruptcy Court in the Southern District of New York, where Purdue filed for Chapter 11 protection in 2019, the Sacklers will pay up to $6.5 billion over a 15-year period, and Purdue will provide $900 million.
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