DONE DEAL

Sackler Family Agrees to Pay $6 Billion Cash for Fueling Opioid Crisis

The deal also states that the Sacklers must allow entities, like museums, galleries, and schools, to expunge the family name from its property.

The Sackler family has agreed to pay up to $6 billion cash for their company Purdue Pharma’s role in fueling the opioid crisis. The agreement was struck with nine state attorneys general after years of litigations that forced Purdue to file for bankruptcy in 2019. Though the company pleaded guilty to fraud and to misleading consumers on how potent and addictive OxyContin is, the Sackler family has maintained their innocence. The $6 billion cash payment should move the company out of bankruptcy but must be finalized by a judge. The deal also states that the Sacklers must allow entities, like museums, galleries, and schools, to expunge the family name from its property.