How the Sackler Family Shifted Billions From Opioids to Trusts

December 17, 2019, 6:52 PM UTC

The money began to flow a decade ago, just as the U.S. government cracked down on Purdue Pharma.

Billions of dollars went to the company’s founding family, the Sacklers, from the drugmaker, whose blockbuster painkiller OxyContin helped fuel the nation’s opioid crisis.

In one instance, $200 million passed through three Purdue affiliates before reaching partnerships linked to the heirs of the company’s co-founders. In all, $10.3 billion of cash payments were made from 2008 through 2017, according to a forensic audit filed as part of Purdue’s bankruptcy.

The payments shine a light on the Sacklers’s finances, which authorities are trying ...

Learn more about Bloomberg Law or Log In to keep reading:

See Breaking News in Context

Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.

Already a subscriber?

Log in to keep reading or access research tools and resources.