Sacklers Exit, $7.4B Opioid Settlement: Purdue Pharma Shuts Down

0:00Purdue Farma, the makers of Oxycontin, are shutting down for good this Friday under a massive settlement from thousands of opioid lawsuits. The deal pumps at least $7.4 billion into fighting the crisis, with $6.5 billion coming straight from the Sackler. Family, who are walking away from any ownership. A new outfit called Noah Farma takes over, run by a board picked by states to tackle the opioid mess head-on. This settlement stacks up as one of the biggest in a wave that's topped $57.8 billion since 2019, from drug companies, wholesalers, and pharmacies. The opioid death toll hit over 900,000 in the US since 1999, starting with prescription pills like Oxycontin then, heroin, and now mostly fentanyl. Folks have mixed feelings on the impact. The Sackler's pocketed $10.7 billion from Purdue between 2008 and 2018. But no family members face criminal charges, despite a big justice department probe.

1:00The Supreme Court shot down an earlier version five to four last year, saying it shielded the family too much from personal lawsuits. Now, 30 million company documents go public through universities like California San Francisco and Johns Hopkins, shedding light on the whole. Saga, victims or their families who prove harm from Purdue's pills could get up to $16,000 or each, something other settlements skipped. Payments roll out over 15 years, heaviest up front, with states able to keep suing the Sacklers if they pass on the cash. It's a step toward accountability, but the fight against opioids rages on. From your city, powered by AI, this is Durham News Today, I'm Corey with the story.