The Sackler family made billions of dollars on Purdue Pharma LP’s blockbuster painkiller OxyContin before their name was tarnished by a staggering public-health crisis in the U.S. Now they’re quitting the drug business as part of the company’s bankruptcy settlement, which will allow them to largely preserve — and potentially grow — the bulk of their fortune, an estimated $11 billion.
On Wednesday, U.S. Bankruptcy Judge Robert Drain approved Purdue’s plan to resolve thousands of opioid lawsuits that drove it to insolvency.
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September 02, 2021 at 03:43AM
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Sackler Family Exits Bankruptcy Trial Over Purdue Pharma's OxyContin - Bloomberg
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