Oxycontin Manufacturer Settles 8.3 Billion Dollar Settlement

Posted On November 24, 2020 In Recent News

The opioid epidemic has ravaged Texas and the United States with drug overdoses for years now. Much of the problems concerning this epidemic has been linked back to the drug makers of these painkillers. Through extensive investigations and multiple lawsuits, it has been determined that the makers of these prescription medications knew the addiction risks posed by their opioid medication and failed to disclose these risks to the public and to medical professionals. Recently, the makers of OxyContin, Purdue Pharma, have reached a settlement with the US Department of Justice and agreed to plead guilty to criminal charges to resolve their role in the country’s opioid crisis. They have agreed to pay $8.3 billion.

How Much Money Will Go To Families?

While $8.3 billion may seem like a large sum of money, the reality is that this money is not designed to go specifically to families that have suffered due to opioid overdoses caused by this ongoing drug epidemic. The Purdue Pharma settlement will be paid out as follows:

• $225 million will go to the US Justice Department
• $1.7 billion will go towards addressing claims made in other lawsuits
• $3.54 billion will be paid as a criminal fine
• $2.8 billion will be paid as a civil penalty (this penalty will compete with other claims in bankruptcy court, as Purdue Pharma has filed for bankruptcy)

Members of the Sackler family that were also named in the lawsuit have agreed to pay an additional $225 million and have given up ownership in Purdue Pharma. Virtually none of this money will be earmarked specifically for victims and families who have been adversely affected by the side effects of synthetic narcotics and prescription opioids. Critics of this settlement say that it lets drug companies, and its owners, off too lightly for their roles in creating the opioid crisis that has claimed more than 400,000 American lives over the last few decades. The Justice Department has defended this settlement and said that it is “significant.” Officials with the DOJ have noted that the Department would forgo much of the $8 billion in fines and allow that money to be directed towards other creditors in the bankruptcy case involving Purdue Pharma. This could, in turn, be directed towards communities that have been harmed by the opioid crisis.

How Can an OxyContin Attorney Help?

If you or a loved one are suffering, or have suffered from opioid addiction complications due to OxyContin, turn to the team at Mike Love & Associates, LLC for help with your case today. We have extensive experience helping clients in cases involving overdose deaths, and we understand the toll this can take on individuals and their family members. We want to help you take on Purdue Pharma if OxyContin has caused you harm. Our opioid and NAS attorneys will investigate your case and work to secure any compensation you may be entitled to. This could include:

• Any medical expenses related to the opioid problem
• Lost wages and benefits if you are unable to work
• Pain and suffering damages
• Loss of quality of life damages
• Possible punitive damages against Purdue Pharma, the makers of OxyContin

When you need a skilled OxyContin attorney by your side, you can contact us for a free consultation or by calling us at (936) 632-2000.