Federal Judge Clears Path for OxyContin Maker's Historic Opioid Settlement

A federal bankruptcy court judge has announced that he will approve Purdue Pharma's latest deal to settle thousands of lawsuits over the toll of opioids, which includes some money for thousands of victims of the epidemic. The deal, overseen by U.S. Bankruptcy Judge Sean Lane, would require members of the Sackler family who own the company to contribute up to $7 billion over 15 years. The new agreement replaces one the U.S. Supreme Court rejected last year, finding it would have improperly protected members of the family against future lawsuits. The judge said he would explain his decision in a hearing on Tuesday. The settlement is part of a series of opioid settlements brought by state and local governments against drug manufacturers. Purdue Pharma, the maker of OxyContin, has faced numerous lawsuits over the years for its role in the opioid epidemic. The company has been accused of aggressively marketing the painkiller, which contains the highly addictive opioid oxycodone, and downplaying its risks. The Sackler family, who own the company, have also faced criticism for their role in the epidemic. The new settlement would provide some financial relief to victims of the opioid epidemic, including those who have lost loved ones to overdose or have struggled with addiction themselves. Jen Trejo, a mother who lost her son to an opioid overdose, expressed relief at the news. "This is a step in the right direction, but it's just a start," she said. "We need to hold accountable those who have profited from the opioid epidemic." The opioid epidemic has had a devastating impact on communities across the United States. According to the Centers for Disease Control and Prevention, more than 500,000 people have died from opioid overdoses since 1999. The epidemic has also had a significant economic impact, with estimates suggesting that it has cost the U.S. economy over $1 trillion. The settlement is a significant development in the ongoing effort to address the opioid epidemic. It is one of the largest in a series of opioid settlements brought by state and local governments against drug manufacturers. The deal is expected to be finalized in the coming weeks, pending the judge's explanation of his decision. The Sackler family has not commented on the settlement, but their lawyer has said that they are committed to making amends for their role in the opioid epidemic. The family has agreed to contribute up to $7 billion over 15 years, which is a significant amount considering the company's estimated value is around $10 billion. The settlement is a major victory for victims of the opioid epidemic and their families, who have been fighting for justice and accountability for years. It is also a significant step forward in the ongoing effort to address the opioid epidemic and prevent future tragedies.