The state agreed with the completion of $ 7.4 billion with Purdue Pharma in the Opioid Litigation

The 50 states and Washington, DC, and four US regions have agreed to sign a settlement of $ 7.4 billion with companies and families that were once famous behind Oxycontin, officials announced Monday.

This settlement completed the delayed litigation of Purdue Pharma, which, under the leadership of the Sackler family, created, produced and aggressively marketed opioid products for decades, according to lawsuits. Countries and cities throughout the country said that it triggered a wave of addiction and death of overdose.

Attorney General in 55 states and territory has signed for historical settlement, which they say will end the ownership of Sacklers over Purdue and forbid them from making, selling, or marketing opioids in the US in the US

California, Colorado, Connecticut, Delaware, Florida, Illinois, Massachusetts, Oregon, Pennsylvania, Tennessee, Texas, Vermont, Virginia, and West Virginia led the team that negotiated the settlement, which marked the largest species involving the opioid crisis, said officials.

“As the family and the Pennsylvania community and the unprecedented Pennsylvania crisis, Purdue and Sacklers have drawn giant profits from their products,” the Attorney General Pennsylvania Dave Sunday said in a statement. “This monumental settlement achieves the top priority to get as much money as possible for prevention, maintenance, and recovery programs throughout the Commonwealth. My office will continue to be involved with city leaders to ensure that millions of dollars reach every corner of the country.”

Purdue introduced Oxycontin, the name of the Oxycodone brand, in the 1990s and submitted bankruptcy chapter 11 in 2019 after the company was demanded thousands of times.

The US Supreme Court canceled the previous settlement in June 2024 which would give $ 6 billion to the state and local governments.

The Sacklers and Purdue then increased their resolution contribution to $ 7.4 billion. At that time, Purdue said in a statement to ABC News, “We are very happy that the New Testament has been achieved which will produce billions of dollars to provide compensation to the victims, reduce the opioid crisis, and provide treatment and overdose drugs that will save life. We have worked intensely with our creditors for months in mediation, and we are now focused on the court.”

$ 7.4 billion will support the opioid addiction program, prevention and recovery of the program for the next 15 years.

A large amount of funds will be distributed in the first three years, with Sacklers paying $ 1.5 billion and Purdue paid around $ 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.

“There will never be enough justice, accountability or money to recover families whose lives have been destroyed or to improve the terrible consequences of the mistakes of the Sackler family,” Attorney General Connecticut William Tong said in a statement on Monday. “What we announce today is very important and insufficient, culmination for many years full of turmoil and legal battles to the US Supreme Court.”

Now the state entry period has ended, local governments throughout the country will be asked to join the settlement, depending on the approval of the Bankruptcy Court. The trial on this issue is scheduled in the coming days, said the Attorney General.

The Supervisory Board elected by the state to participate by consulting with other creditors will determine the future of Purdue, which will continue to be monitored by the monitor and will be prevented from the lobby or marketing opioid.