Skip To Content
Get Our Newsletter
JEWISH. INDEPENDENT. NONPROFIT.

Support the Forward

Funded by readers like you DonateSubscribe
Fast Forward

Sackler Family Fortune Protected Under Purdue Pharma Bankruptcy Plan

Purdue Pharma has a bankruptcy plan that may ensure the Sackler family keeps their fortune.

Purdue, maker of the painkiller OxyContin, filed for Chapter 11 as it began the process of the settling several lawsuits, The Washington Post reported. The company asked the judge on Wednesday to temporarily pause the lawsuits racking up against the Sacklers, the family that owns it.

The Sacklers already agreed to a settlement with several states, which sued for their perpetuating role in the opioid crisis. If the judge doesn’t grant them protection, the company said the settlement deal may fall through.

State attorneys are incredulous, believing the Sacklers should be using their wealth — the state of Oregon believes they have taken about $10 billion out of the company, according to the Post — to combat the growing problem of opioid addiction.

Alyssa Fisher is a writer at the Forward. Email her at fisher@forward.com, or follow her on Twitter at @alyssalfisher

Engage

  • SHARE YOUR FEEDBACK

  • UPCOMING EVENT

Republish This Story

Please read before republishing

We’re happy to make this story available to republish for free under an Attribution-Non Commercial-No Derivatives Creative Commons license as long as you follow our republishing guidelines, which require that you credit Foward and retain our pixel. See our full guidelines for more information.

To republish, copy the HTML, which includes our tracking pixel, all paragraph styles and hyperlinks, the author byline, and credit to Foward. Have questions? Please email us at help@forward.com.

We don't support Internet Explorer

Please use Chrome, Safari, Firefox, or Edge to view this site.