Sacklers Up Their Offer to Settle Purdue Opioids Cases, With a New Condition
Published On Jan 23, 2025, 12:04 PM
The Sackler family, owners of Purdue Pharma, has proposed a new settlement plan that would involve a payment of up to $6.5 billion to resolve ongoing opioid-related litigation. Unlike previous deals, this settlement does not provide immunity from future lawsuits against the Sacklers, who will also need to set aside up to $800 million for legal defense. This settlement, praised by the New York attorney general, is a part of a larger $7.4 billion agreement, which aims to ensure the Sacklers lose control of Purdue Pharma and are banned from selling opioids in the U.S.
Stock Forecasts
PFE
Positive
The new settlement may lead to closure on prolonged litigation, potentially instigating some stability in related pharmaceutical stocks. However, public sentiment towards Purdue Pharma and the opioid crisis may dampen future investments in related companies. Shares of Purdue's competitors could see some positive momentum if they distance themselves from Purdue's reputation. Overall, the legal clarity should benefit broader healthcare and pharmaceutical sectors in the long run.
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