Purdue Pharma Is Dissolved and Sacklers Pay $4.5 Billion to Settle Opioid Claims
Purdue Pharma, the maker of the highly addictive painkiller OxyContin, was dissolved on Wednesday in a wide-ranging bankruptcy settlement that will also require the company’s owners, members of the Sackler family, to turn over billions of their fortune to address the deadly opioid epidemic.
But the agreement includes a much-disputed condition: It largely absolves the Sacklers of Purdue opioid-related liability. And as such, they will remain among the richest families in the country.
Judge Robert Drain of the U.S. Bankruptcy Court in White Plains, N.Y., provisionally approved the plan, saying...