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The announcement comes following an earlier deal made with Purdue, headquartered in Stamford, Connecticut, that was ultimately appealed by eight states and the District of Columbia until the Sacklers kicked in more cash to get the deal done.
The $6 billion will be paid out over the course of 18 years, with larger payments front-loaded to allow states to receive the cash more quickly and begin funding new opioid treatment and prevention centers.
As part of the agreement, the Sackler family must apologize and allow institutions to remove the Sackler name from buildings and scholarships.
The settlement also includes provisions of the Purdue bankruptcy plan that include forcing the company to be dissolved or sold by 2024 and banning the Sackler family from the opioid business not only in the US, but across the globe.
Family members must also make more than 30 million documents public under the bankruptcy plan that they previously failed to disclose.
Federal officials noted that the settlement is only civil in nature, and neither the new agreement nor the prior bankruptcy plan releases the Sacklers from any potential future criminal liability, though no cases are immediately pending.
Following the announcement of the settlement, the Sacklers issued a statement saying that they regret the toll OxyContin has taken on families across the country, but not outright apologizing.
“The Sackler families are pleased to have reached a settlement with additional states that will allow very substantial additional resources to reach people and communities in need,” the statement reads. “The families have consistently affirmed that settlement is by far the best way to help solve a serious and complex public health crisis.
“While the families have acted lawfully in all respects, they sincerely regret that OxyContin, a prescription medicine that continues to help people suffering from chronic pain, unexpectedly became part of an opioid crisis that has brought grief and loss to far too many families and communities.”
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