Purdue Pharma's owners made larger profit than previously thought, court filing shows

OxyContin-maker Purdue Pharma's settlement is under increased scrutiny after court filings revealed the Sackler family made $12 billion to $13 billion in profit from the company, according to The Wall Street Journal.

As part of a tentative settlement deal announced Sept. 11, the Sackler family agreed to pay $3 billion to resolve lawsuits alleging the family played a role in fueling the opioid crisis.

After the deal was announced, opponents immediately argued the family should be required to pay more to compensate for the damage of drug addiction in the states and counties that filed the lawsuits.

The exact amount the Sackler family received from Purdue Pharma hasn't been determined, but the latest bankruptcy court filings indicate the family received far more than previously thought, potentially strengthening the argument that they should be required to pay more to settle lawsuits.

"The Sackler family is trying to take advantage of the fact that they've extracted nearly all the money out of Purdue and pushed the carcass of the company into bankruptcy," Josh Stein, North Carolina's attorney general, told the WSJ. "That's unacceptable."

It's unclear over what period of time the family received the money from Purdue Pharma, but they have not disputed the amount.

Read the full article here.

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