U.S. Bankruptcy Judge Sean Lane approved Purdue Pharma’s $7.4 billion settlement plan on November 18, resolving thousands of opioid-related lawsuits.

The deal stems from Purdue’s role in fueling the U.S. opioid epidemic through aggressive marketing of addictive painkillers like OxyContin.

The big picture: The Sackler family, former owners of Purdue, will pay $1.5 billion, while Purdue will pay about $900 million initially, with additional payments spread over the next three years.

What they’re saying: New York Attorney General Letitia James stated, “For decades, the Sacklers ran Purdue with one goal in mind: maximizing profits for their family, no matter the cost.” • James added, “While no amount of money will ever fully reverse the damage they caused, securing this bankruptcy plan br

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