Dec 4, 2023
1 min read
1 min read

OxyContin Maker’s Bankruptcy Deal Goes Before the Supreme Court

OxyContin Maker’s Bankruptcy Deal Goes Before the Supreme Court

WASHINGTON (NEWSnet/AP) — The Supreme Court on Monday is hearing arguments over a nationwide settlement with OxyContin maker Purdue Pharma that would shield members of the Sackler family, who own the company, from civil lawsuits over the toll of opioids.

The settlement agreement that has been hammered out between state and local governments, along with victims of the highly addictive drug, would provide billions of dollars to combat the opioid epidemic.

The Sacklers would be shielded from any liability in civil lawsuits over the drug's effects.

In the agreement, the Sacklers would give up company ownership and contribute up to $6 billion to fight the opioid epidemic.

The company would then come out of bankruptcy as a different entity, using its profits used for treatment and prevention.

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