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Purdue Pharma Settlement Plan Advances to Vote as B.C. Intensifies Opioid Lawsuits

Stakeholders will vote by September 30 on a $7.5 billion deal requiring the Sackler family to relinquish control, banning their future opioid sales.

Overview

  • Fifty-five U.S. states and territories agreed to a $7.5 billion settlement that forces the Sackler family to give up control of Purdue Pharma and bars them from selling prescription opioids.
  • U.S. Bankruptcy Judge Sean Lane approved procedures for local governments, individual victims and other groups to receive information and cast ballots on the deal by September 30.
  • More than $850 million of the settlement could go directly to individual claimants, with the bulk of funds earmarked for state and local addiction treatment and overdose prevention programs.
  • British Columbia’s attorney general secured a Supreme Court certification for class-action lawsuits against McKinsey & Company and other opioid manufacturers on behalf of Canadian provinces and territories.
  • Experts urge that recovered settlement funds be dedicated to opioid remediation services, and B.C. plans to mandate that its legal recoveries support health-care and community addiction programs.