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Purdue Pharma and the Sackler family that controls it have agreed to pay several states US$7.4bn to settle liability claims in the opioid maker's bankruptcy.
The first agreement with more than a dozen countries comes after months of mediation between the family and Purdue's debtors. The drugmaker first filed for bankruptcy in 2019 in a New York court to manage hundreds of lawsuits over its role in the lawsuit. the opioid crisis.
An earlier $6 billion settlement agreed between the family and creditors was struck down by the US Supreme Court over the summer. The agreement was contingent on protecting the family members from future lawsuits, which the court said was not allowed unless the family members filed for bankruptcy themselves.
The funds will be used over the next 15 years to pay for opioid treatment and rehabilitation programs, according to a statement from the Texas attorney general's office.
This is a growing story.