Purdue Pharma Deal Gets Court Blessing, Protecting Sacklers (1)

A panel of judges has approved Purdue Pharma LP’s $6 billion opioid settlement proposal, reversing a lower court’s decision and protecting the company’s billionaire owners from future lawsuits.

The ruling brings Purdue, maker of OxyContin, one step closer to funneling billions of dollars toward opioid abuse abatement initiatives and moves members of the Sackler family nearer to giving up ownership of the firm. Both have been accused of wrongly profiting from their role in the US opioid epidemic.

The settlement, which is part of Purdue’s bankruptcy proceedings, would end a mountain of litigation against the firm and its owners. ...