Tag Archives: Sackler Family

ABC News reports: The company and the once-prominent family behind the drug OxyContin agreed Thursday to increase their financial contribution to resolve mass opioid litigation. The Sacklers and Purdue Pharma boosted their settlement contribution to $7.4 billion after the U.S. Supreme Court overturned a prior settlement in June 2024. If approved, the new plan would end the costliest corporate bankruptcy …

Reuters reports: The U.S. Supreme Court on Monday is set to hear a challenge by President Joe Biden’s administration to the legality of OxyContin maker Purdue Pharma’s bankruptcy settlement, a deal that if approved would shield its wealthy Sackler family owners from lawsuits over their role in the country’s opioid epidemic. Purdue’s owners under the settlement would receive immunity in …

ProPublica reports: Previously undisclosed emails, including some filed in lawsuits against Purdue and others provided by sources, reveal a little-known relationship, forged in part by mutual philanthropic interests, between the Sacklers and Michael Bloomberg. They show that when the Sacklers were facing critical media coverage, they looked to Bloomberg and his news and philanthropic organizations for help. Bloomberg advised Mortimer …

The New York Times reports: As scrutiny of Purdue Pharma’s role in the opioid epidemic intensified during the past dozen years, its owners, members of the Sackler family, withdrew more than $10 billion from the company, distributing it among trusts and overseas holding companies, according to a new audit commissioned by Purdue. The amount is more than eight times what …