Purdue Pharma and Sackler family granted immunity from opioid lawsuits in exchange for $6bn settlement
Purdue Pharma, the maker of OxyContin, and its owners, the Sackler family, have been granted full immunity from all civil legal claims related to their role in the US opioid crisis in exchange for a $6bn settlement. The ruling by a federal appeals court panel clears the way for Purdue to settle thousands of lawsuits over the toll of opioids. The Sacklers will give up ownership of Purdue, which will become a new company known as Knoa, with its profits being sent to a fund to prevent and treat addiction. The family will also contribute $5.5bn to $6bn in cash over time, or around half of what the court found to be their collective fortune, much of it held offshore.