Purdue Pharma headquarters in Stamford, Conn., is shown on Oct. 21. Two members of the Sackler family agreed to make a rare public appearance to take questions from a congressional committee that is investigating the role of the company they own, Purdue Pharma, in fueling the nation人妖色情片檚 opioid epidemic.
Purdue Pharma headquarters in Stamford, Conn., is shown on Oct. 21. Two members of the Sackler family agreed to make a rare public appearance to take questions from a congressional committee that is investigating the role of the company they own, Purdue Pharma, in fueling the nation人妖色情片檚 opioid epidemic.
A $7.4 billion settlement with Purdue Pharma and its owners, the Sackler family, was agreed to be signed by 55 attorneys general representing states and United States territories, Attorney General JB McCuskey announced Monday.
According to the release, the Sackler family has also informed the attorneys general of its plan to proceed with the settlement, which would resolve litigation against Purdue Pharma and the Sacklers for their role in the creating and worsening the opioid crisis across the country.
人妖色情片淭he Sacklers aggressively marketed their drugs to communities like ours, without a care in the world about the lives they were destroying, only focused on their bottom line,人妖色情片 McCuskey said in the release. 人妖色情片淭he settlement holds the Sacklers and Purdue Pharma accountable for the pain they人妖色情片檝e caused our state and our country. Now, hopefully, we can start to recover and turn the page on the opioid crisis.人妖色情片
The settlement ends the Sackler family人妖色情片檚 control of Purdue and the ability to sell opioids in the United States. The deal was reached in principle in January but was finalized Monday.
Now that the state sign-on period has concluded, local governments across the country will be asked to join the settlement contingent on bankruptcy court proceedings, the release states.
Communities will receive funds directly over the next 15 years to support addiction treatment, prevention and recovery, the release states. This settlement in principle is the nation人妖色情片檚 largest settlement to date with individuals responsible for the opioid crisis. While most other states will receive their settlement payments over 15 years, West Virginia will receive as much as $53 million from this settlement on an accelerated payment schedule over the next nine years due to the disproportionate impact opioids have had on the state, its citizens, and its communities, according to the release.
Most of the settlement funds will be distributed in the first three years. The Sacklers will pay $1.5 billion, and Purdue will pay roughly $900 million in the first payment, followed by $500 million after one year, an additional $500 million after two years, and $400 million after three years.
The settlement with Purdue and the Sacklers will involve resolution of legal claims by state and local governments. The local government sign on, and voting solicitation process for the settlement moving forward will be contingent on bankruptcy court approval. The release states that a hearing is scheduled on that matter in the coming days.
Including this new settlement, West Virginia has obtained settlements totaling over $1 billion from companies that helped fuel the opioid epidemic, according to the release.
Kentucky Attorney General Russell Coleman announced in a news release Monday that the commonwealth will get $73.1 million in the settlement. The announcement brings Kentucky人妖色情片檚 total recovery to more than $1 billion from settlements with the companies behind the worst man-made crisis in Kentucky人妖色情片檚 history.
人妖色情片淔or too long, Kentucky families have been suffering the deadly consequences of those behind the drug crisis. These resources won人妖色情片檛 bring back lost loved ones, but they may be able to prevent future tragedies,人妖色情片 Coleman said in the release. 人妖色情片淲ith more than $1 billion, Kentucky is investing in prevention, treatment and recovery programs that will save lives and turn the page on this crisis.人妖色情片
According to the system created by Kentucky人妖色情片檚 General Assembly, 50% of the settlement funds will be distributed by the Kentucky Opioid Abatement Advisory Commission, according to the release. Last week, Coleman announced the Commission人妖色情片檚 latest funding opportunity to support research that addresses the drug epidemic in Kentucky.
The other half of the settlement funds are distributed to cities and counties according to a predetermined formula, the release states.
In Ohio, Attorney General Dave Yost announced the state of Ohio will receive $198 million from the agreement.
人妖色情片淭his is another major step toward accountability and recovery,人妖色情片 Yost said in a news release. 人妖色情片淭he money won人妖色情片檛 undo the damage, but it will help communities in Ohio and elsewhere continue to address and overcome the unspeakable harm.人妖色情片
Oklahoma was the only state not included in the settlement.
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