#sacklerfamily

The Guardian | Purdue Pharma to be dissolved as judge approves criminal sentence in opioid case by Associated Press AI generated summary, Read the full article for complete information. Purdue Pharma, the maker of OxyContin, will be dissolved and replaced by a new publicly‑controlled company, Knoa Pharma, after a federal judge approved a sweeping legal settlement that ends criminal and civil investigations into the firm’s role in the U.S. opioid crisis. The settlement includes an $8.3 billion forfeiture, fines and penalties—of which the government will collect $225 million—while members of the Sackler family that owned Purdue will pay up to $7 billion over 15 years, most of it earmarked for government programs to combat opioid abuse. Thousands of lawsuits from states, localities, Native American tribes and individual victims were resolved, with individual payouts ranging from about $8,000 to $16,000. Victims and families testified that the deal offers little real justice, but the agreement also provides for the public release of millions of internal Purdue documents and shields the Sacklers from further lawsuits, aiming to bring closure and resources to address the epidemic. Read more: https://www.theguardian.com/society/2026/apr/29/purdue-pharma-dissolved-replaced-opioid-settlement #PurduePharma #Sacklerfamily #opioidscrisis #pharmaceuticalsindustry

News Headlines | Purdue Pharma sentenced ahead of bankruptcy AI generated summary, Read the full article for complete information. A U.S. federal judge criminally sentenced Purdue Pharma, the maker of OxyContin, ahead of its planned bankruptcy and dissolution, ordering the company’s board chair to apologize to victims after more than six hours of emotional testimony. The sentencing comes as Purdue and the Sackler family—its longtime owners—agree to a bankruptcy plan that will channel over $8 billion in fines, forfeitures and penalties to affected communities, while the company itself will be dissolved on May 1 and its remnants re‑formed as the public‑benefit entity Knoa Pharma, focused on opioid‑use‑disorder treatments and overdose reversal. Although many victims objected to the settlement because it shields the Sacklers from criminal prosecution, the judge deemed it the “best route” among available options and urged bankruptcy lawyers to honor compensation promises. The case underscores the broader opioid crisis, which has claimed roughly 806,000 American lives from 1999 to 2023. Read more: https://www.rte.ie/news/world/2026/0429/1570762-purdue-oxycontin/ #PurduePharma #Sacklerfamily #KnoaPharma #CDC #MadelineCoxArleo #SteveMiller