A federal judge officially approved drug maker Purdue Pharma’s latest deal to settle thousands of lawsuits over the toll of the opioid epidemic and pay victims, according to multiple media reports.
U.S. Bankruptcy Judge Sean Lane on Tuesday, Nov. 18 approved OxyContin maker Purdue Pharma’s plan to settle thousands of lawsuits over the harms of the opioids, the AP reported. The judge’s decision orders members of the Sackler family, who own the drug-making company, “to contribute up to $7 billion over 15 years.”
The move comes on the heels of Reuters reporting last week that the New York-based judge said he would approve a restructuring plan for the drug maker that includes a $7.4 billion settlement.
The deal aims to resolve claims Purdue Pharma fueled the United States opioid epidemic by selling addictive pain meds linked to hundreds of thousands of deaths over the past two decades.
Some of the money will be given to people who had OxyContin prescriptions, as well as their survivors, the outlets reported.
“My heart goes out to all those who have suffered such pain,” Lane said during a hearing Tuesday in United States Bankruptcy Court for the Southern District of New York , the AP reported.
A pharmacist holds a bottle OxyContin made by Purdue Pharma at a pharmacy in Provo, Utah, U.S., May 9, 2019.
USA TODAY has reached out to the Southern District of New York bankruptcy court for additional information.
“The plan is the product of intense work with our creditors through a singular, shared focus on delivering as much value as possible to meaningfully address the opioid crisis,” Steve Miller, Purdue’s board chairman, said late last week in a statement reported by Reuters.
This is a developing story that will be updated.
Natalie Neysa Alund is a senior reporter for USA TODAY. Reach her at nalund@usatoday.com and follow her on X @nataliealund
This article originally appeared on USA TODAY: Purdue Pharma’s new $7B opioid settlement approved by judge
