Sackler family granted immunity, Purdue Pharma settlement approved

A federal appeals court ruled Purdue Pharma can shield the Sackler family from civil lawsuits related to the opioid crisis in exchange for a $6 billion settlement.
Purdue Pharma will become a new company called Knoa Pharma that will make addiction treatment drugs with profits going to address the opioid crisis.
The Sackler family will relinquish ownership of Purdue Pharma and pay $5.5 to $6 billion, with $750 million going to victims of the crisis and their families.
The ruling sets a precedent allowing company owners facing product liability suits to pursue immunity through bankruptcy deals.
The settlement still needs approval from a bankruptcy judge and could face appeals, while other companies have also settled opioid-related suits for over $50 billion.