What a Purdue Pharma bankruptcy means for the Sackler family

0
69
By SARAH SKIDMORE SELL, GEOFF MULVIHILL and ADAM GELLER AP Staff Writers Purdue Pharma could be heading for bankruptcy but the extent to which it would affect the Sackler family fortunes remains unclear. The company, which makes OxyContin and other drugs, this week reached a tentative agreement with thousands of local governments and more than 20 states over its role in the opioid crisis that has contributed to the death of thousands of Americans. As part of that deal, the company would file for Chapter 11 bankruptcy protection, the Sacklers would lose control of the business and the family could pay up to $4.5 billion. But some states are refusing to sign on, saying it doesn't do enough to hold the Sacklers and their company accountable. The legal battle will play out in court over
Subscribe or log in to read the rest of this content.