Purdue Pharma, states reach $6B settlement deal: 5 notes 

The Sackler family, owners of OxyContin maker Purdue Pharma, has agreed to pay $6 billion to settle long-running litigation alleging they fueled the nation's opioid epidemic, The New York Times reported March 3.

After three years of negotiations, this marks the first time states have accepted a settlement agreement with the company and its owners. 

Four more notes: 

1. If the agreement is approved by Judge Robert Drain, who has presided over Purdue's bankruptcy proceedings, the Sacklers would pay as much as $6 billion to fund addiction treatment programs and help U.S. communities address the opioid crisis's aftermath. 

2. The settlement money would come from both the Sackler family's money as well as cash and revenue from future Purdue sales. 

3. The agreement would grant the Sackler family immunity from current and future civil opioid lawsuits. The liability protection would not extend to criminal prosecutions.

4. The agreement comes after a federal judge in December reversed Purdue Pharma's $4.5 billion settlement, saying members of the Sackler family could not be granted legal immunity from other opioid lawsuits. 

"We're pleased with the settlement achieved in mediation, under which all of the additional settlement funds will be used for opioid abatement programs, overdose rescue medicines and victims," Purdue said in a statement cited by the Times. "With this mediation result, we continue on track to proceed through the appeals process on an expedited schedule, and we hope to swiftly deliver these resources."

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