Members of the family who own OxyContin maker Purdue Pharma, and the company itself, agreed to pay up to $7.4 billion in a new settlement to lawsuits over the toll of the powerful prescription painkiller, California Attorney General Rob Bonta announced Thursday.
The deal, agreed to by Purdue Pharma, the Sackler family members who own the company and lawyers representing state and local governments and thousands of victims of the opioid crisis, represents an increase of more than $1 billion over a previous settlement deal that was rejected last year by the U.S. Supreme Court.
The Sacklers agreed to pay up to $6.5 billion, and Purdue to pay $900 million, for a total of $7.4 billion.
It’s among the largest settlements reached over the past several years in a series of lawsuits by local, state, Native American tribal governments and others seeking to hold companies responsible for a deadly epidemic. Aside from the Purdue deal, others worth around $50 billion have been announced — and most of the money is required to be used to stem the crisis.
“We are holding accountable two of the worst perpetrators: Purdue Pharma and the Sackler Family,” said Bonta in a statement. “I want to thank my … fellow attorneys general for making this historic settlement possible. Those who prioritize profits over people will continue to face serious consequences.”