Reference no: EM133183172
Purdue Pharma, the maker of OxyContin, pleaded guilty to three federal criminal charges related to the company's role in creating the nation's opioid crisis. Purdue Pharma is a private company owned principally by members of the Sackler family.
Purdue Pharma announced a preliminary agreement to settle the opioid litigation facing the Company.
Benefits of the Settlement:
Purdue would become a public benefit company (PBC) with a focus on addressing the opioid crisis, established for the benefit of claimants and the American people.
100% of Purdue's assets would be transferred to this new structure.
The settlement would deliver more than $10 billion in value and address the opioid crisis by, among other things, providing needed funds, as well as millions of doses of lifesaving opioid addiction treatment and overdose reversal medicines.
The settlement is designed to quickly deliver resources to states and local communities to abate the opioid crisis versus delay, expense and value destruction from endless litigation or a many years-long bankruptcy process.
Purdue will continue operating as a pharmaceuticals company however, it will be a Benefit Corporation and its social mission will be treating opioid addiction.
It's certainly creative thinking! What do you think about this settlement? Is this a solution that provides the most benefit to the most people? Would your opinion be different if you had lost a family member to opioid addiction?
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