Purdue Pharma Settles $270 Million Opioid Suit
The embattled OxyContin manufacturer has agreed to settle a lawsuit brought by the state of Oklahoma, which alleged that the pharmaceutical giant’s aggressive marketing of the drug triggered America’s opioid crisis. Around $200 million of the settlement will be used to establish the National Center for Addiction Studies and Treatment at Oklahoma State University. The company’s founding Sackler family must cough up $75 million.
What’s next for Purdue Pharma? Still facing more than 1,600 lawsuits — and likely bankruptcy — some experts believe this settlement could open the floodgates for many more.
Don’t miss OZY’s Special Briefing on the Sacklers’ tainted philanthropy.