Under the proposed Purdue Pharma opioid settlement, the Sacklers would still be billionaires by KristinStoller
A sign with the Sackler name is displayed at the Metropolitan Museum of Art in New York, Thursday, Jan. 17, 2019. The Sackler name adorns walls at some of the world's top museums and universities, including the Met, the Guggenheim and Harvard.
The owners of Purdue Pharma will keep their billionaire status even if they agree to a reported $10 to $12 billion settlement of thousands of lawsuits filed against the company,If the Sackler family, which owns Purdue Pharma, accepts the terms of a settlement now under discussion,estimates they will still be worth between $1 billion and $2 billion, down from a current net worth estimate of $11.2 billion.
Purdue said in a statement: “While Purdue Pharma is prepared to defend itself vigorously in the opioid litigation, the company has made clear that it sees little good coming from years of wasteful litigation and appeals. The people and communities affected by the opioid crisis need help now. Purdue believes a constructive global resolution is the best path forward, and the company is actively working with the state attorneys general and other plaintiffs to achieve this outcome.
As part of the settlement, the Sackler’s would be required to pay $3 billion of their own money, according to a
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