Portugal Colonial - Sacklers, Purdue to pay $7.4 bn over opioid crisis

The opioid crisis, which has caused more than 500,000 deaths over 20 years in the United States, has triggered a flurry of lawsuits against drugmakers, distributors and pharmacies from victims and the authorities.

Thursday's settlement, which will see funds routed to communities and individuals affected by opioids, is the largest of several targeting the makers and sellers of the highly addictive drugs.

The $7.4 billion settlement was agreed "in principle with members of the Sackler family and their company Purdue Pharma for their instrumental role in creating the opioid crisis," New York Attorney General Letitia James's office said in a statement.

"The settlement ends the Sacklers's control of Purdue and ability to sell opioids in the United States and will deliver funding directly to communities across the country over the next 15 years to support opioid addiction treatment, prevention, and recovery programs.

"The $7.4 billion settlement in principle (is) the nation's largest."

Purdue and other opioid makers and distributors were accused of encouraging free-wheeling prescription of their products through aggressive marketing tactics while hiding how addictive the drugs are.

- Litigation avalanche -

Facing an avalanche of litigation, in 2021 Purdue pled guilty to three criminal charges over its marketing of OxyContin.

The Sacklers have consistently denied wrongdoing over the opioid crisis.

The settlement featured some 15 states including New York, Florida and Pennsylvania.

"The Sackler family relentlessly pursued profit at the expense of vulnerable patients, and played a critical role in starting and fueling the opioid epidemic," James said in a statement.

"While no amount of money will ever fully repair the damage they caused, this massive influx of funds will bring resources to communities in need so that we can heal."

The settlement includes the eight heirs of the original Purdue founders Raymond and Mortimer Sackler who served on the company board -- Richard, Kathe, Mortimer Jr, Ilene, David, and Theresa Sackler.

For many people, opioid addiction begins with prescribed pain pills, before they increase their consumption and eventually turn to illicit drugs such as heroin and fentanyl, an extremely powerful synthetic opioid.

Opioid victims and their families addressed the Sackler family, owners of Purdue Pharma, the maker of OxyContin, directly in a US courtroom in March 2022 as part of the company's bankruptcy case.

"We buried Matthew and Kyle because of your family's vicious acts of disregard for human life," Liz Fitzgerald said of the deaths of two of her sons, who died at ages 32 and 25 after years of dealing with opioid addictions.

"Two boys are gone because of your 'safe' medication," Fitzgerald said.

F.Ferraz--PC