USA: Supreme Court rejects nationwide Purdue Pharma opioid settlement
"The Supreme Court rejects a nationwide opioid settlement with OxyContin maker Purdue Pharma," 27 June 2024
The Supreme Court on Thursday rejected a nationwide settlement with OxyContin maker Purdue Pharma that would have shielded members of the Sackler family who own the company from civil lawsuits over the toll of opioids but also would have provided billions of dollars to combat the opioid epidemic...
After deliberating more than six months, the justices in a 5-4 vote blocked an agreement hammered out with state and local governments and victims. The Sacklers would have contributed up to $6 billion and given up ownership of the company but retained billions more. The agreement provided that the company would emerge from bankruptcy as a different entity, with its profits used for treatment and prevention...
The high court had put the settlement on hold last summer, in response to objections from the Biden administration.
It’s unclear what happens next, though people involved in the case said they expect talks to resume...
The Purdue Pharma settlement would have ranked among the largest reached by drug companies, wholesalers and pharmacies to resolve epidemic-related lawsuits filed by state, local and Native American tribal governments and others. Those settlements have totaled more than $50 billion...