Historic $7.4 billion settlement in opioid lawsuit
Purdue Pharma, the maker of the painkiller OxyContin, and its owners, the Sackler family, have agreed to a historic $7.4 billion settlement in a lawsuit stemming from the deadly toll of their drug.
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The opioid epidemic continues to devastate communities across the U.S., and on Thursday, a major step was taken toward addressing the fallout from this public health crisis.
Purdue Pharma, the maker of the painkiller OxyContin, and its owners, the Sackler family, have agreed to a historic $7.4 billion settlement in a lawsuit stemming from the deadly toll of their drug.
Teri Kroll, a mother from Lindenhurst, knows this pain all too well. Her son, Timothy, struggled with addiction after being prescribed painkillers, including OxyContin.
Tragically, Timothy died from an overdose in 2009, and Kroll has never stopped fighting for accountability.
"The Sacklers and their actions killed my son," Kroll said, expressing her deep grief over the loss of her child.
Her case is not unique. Many others who have lost loved ones to the opioid epidemic feel the same way – the lives lost are immeasurable, and no amount of money can bring them back.
The $7.4 billion settlement reached Thursday is the result of years of litigation and will directly address the harm caused by OxyContin.
Under the terms of the agreement, $6.5 billion will be paid by the Sackler family. Purdue Pharma will also give up ownership of the company, which has been at the center of the opioid crisis.
In a statement, Purdue Pharma expressed its hope that the agreement would help compensate victims, reduce the opioid crisis, and fund programs that save lives.
"We are extremely pleased that a new agreement has been reached that will deliver billions of dollars to compensate victims, abate the opioid crisis, and deliver treatment and overdose rescue medicines that will save lives," the company said.
While the settlement is a significant step forward, experts are clear that the funds must be used effectively to help those still struggling with addiction.
Steve Chassman, a drug treatment expert with the Long Island Council on Alcoholism and Drug Dependence, emphasized that the money must go directly to help those struggling with addiction.
"This is a monetary relief that hopefully will go to education, prevention, and will go to grief and loss counseling for families who are forever changed," Chassman said. For him and others in the field, the hope is that these funds will help prevent further deaths and provide essential resources for people in recovery.
While the settlement is a significant milestone, it still needs approval from the courts before it can take effect. The Attorney General for New York State expects the finalization to occur by the end of this year, with payments to be made over a period of 15 years.
