Sacklers to Exit From Complex Purdue Bankruptcy With Billions (3)

The Sackler family made billions of dollars on Purdue Pharma LP’s blockbuster painkiller OxyContin before their name was tarnished by a staggering public-health crisis in the U.S. Now they’re quitting the drug business as part of the company’s bankruptcy settlement, which will allow them to largely preserve — and potentially grow — the bulk of their fortune, an estimated $11 billion.

On Wednesday, U.S. Bankruptcy Judge Robert Drain approved Purdue’s plan to resolve thousands of opioid lawsuits that drove it to insolvency.

As part of the settlement, the Sacklers have agreed to contribute about $4.5 billion, sell ...