US Bankruptcy Court Approves Purdue Pharma and Sackler Family Deal

A federal bankruptcy court judge has indicated he will approve Purdue Pharma’s settlement deal, requiring the Sackler family to contribute up to $7 billion over 15 years to address opioid crisis victims. This agreement replaces a previously rejected deal by the US Supreme Court and reflects broader consensus among parties involved. The settlement aims to provide compensation while restructuring Purdue, which will be renamed Knoa Pharma, and bar the Sacklers from opioid-related businesses. It marks a significant step in resolving extensive litigation linked to the opioid epidemic in the US.

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