12/16/2023 0 Comments Rochard sacklerPurdue Pharma came under scrutiny for the way it aggressively marketed Ox圜ontin, an addictive painkilling medication. That movement is already underway, with the Metropolitan Museum of Art in New York deciding last December to remove the Sackler name from seven exhibition spaces, the Journal reported. Company profits would go toward drug treatment programs.Īnother condition of the agreement is that the Sacklers, who have long donated to cultural institutions, agree not to protest if a medical center or art museum votes to remove the Sackler name. The Sacklers will lose control of Purdue Pharma, which will be organized into a new company named Knoa Pharma with a board appointed by public officials. “But Connecticut cannot stall this process indefinitely as victims and our sister states await a resolution.” “This settlement is both significant and insufficient - constrained by the inadequacies of our federal bankruptcy code,” he said in a statement. Drain and then the Justice Department still have to approve the new agreement for it to go forward.Ĭonnecticut Attorney General William Tong criticized the latest settlement as too small but said he approved it because treatment programs were needed right away. A number of defendants appealed, and another federal judge overturned the settlement, setting off a new round of negotiations, according to The Wall Street Journal. Bankruptcy Court in White Plains, NY, said he was ready to approve a $4.5 billion settlement. Last September, Judge Robert Drain of the U.S. “While the families have acted lawfully in all respects, they sincerely regret that Ox圜ontin, a prescription medicine that continues to help people suffering from chronic pain, unexpectedly became part of an opioid crisis that has brought grief and loss to far too many families and communities,” the Sacklers said in a statement attached to the court filing, according to the Times.
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