Sacklers Join Latest Deal to Settle Purdue Opioid Litigation (1)

Purdue Pharma LP’s Sackler family owners have joined a proposed settlement that would allow the OxyContin maker to exit bankruptcy and put more than $6 billion toward resolving opioid-related litigation, court-appointed mediators said.

With a faction of the Sackler family that had previously been holding out on a deal now on board, work continues on a reorganization plan, individual settlement agreements, and determining what the drugmaker will look like when it exits bankruptcy, the mediators said in a report filed Monday in the US Bankruptcy Court for the Southern District of New York.

The Sacklers’ prior deal that aimed to ...