News Summary
Louisiana will receive approximately $69.8 million over the next 15 years as part of a historic settlement with Purdue Pharma and the Sackler family regarding the opioid crisis. Attorney General Liz Murrill announced the settlement, which is part of a $7.4 billion nationwide agreement involving 55 attorneys general. Funds will support addiction treatment and recovery programs, marking a critical step in addressing the opioid epidemic’s impact on the state. This settlement also ends the Sackler family’s control over Purdue Pharma.
Baton Rouge, Louisiana – Louisiana will receive approximately $69.8 million over the next 15 years as part of a significant nationwide settlement with Purdue Pharma and the Sackler family, addressing their role in the opioid crisis. The announcement was made by Louisiana Attorney General Liz Murrill on Monday, revealing that the agreement is part of a larger $7.4 billion settlement reached by 55 attorneys general from across various U.S. states and territories.
This settlement is notable as it is the largest-ever financial agreement linked to individuals amidst the opioid epidemic. To fulfill its obligations, the Sackler family is expected to provide $1.5 billion in an upfront payment, while Purdue Pharma will contribute $900 million as part of the initial payment. The settlement structure includes additional payments: $500 million after the first year, another $500 million the following year, and $400 million in the third year. Notably, the majority of Louisiana’s allocated funds are set to be distributed within these first three years.
Distribution of Funds
The funds acquired through this settlement are earmarked for distribution through the Opioid Abatement Trust, which aims to support various initiatives focused on addiction treatment, prevention, and recovery programs throughout Louisiana’s parishes. This investment underscores the state’s commitment to addressing the pervasive effects of the opioid crisis.
Conclusion of Purdue Pharma’s Control
Significantly, this settlement marks the conclusion of the Sackler family’s control over Purdue Pharma. Under the terms, they are prohibited from selling opioids within the United States, representing a major shift in the management and distribution of opioid medications that have contributed to widespread addiction and health crises.
Total Opioid Settlement Funds
With the inclusion of previous settlements involving other pharmaceutical manufacturers and distributors, Louisiana’s total committed opioid settlement funds now amount to nearly $641 million. This significant financial support aims to tackle the ongoing opioid crisis and its far-reaching impact on communities throughout the state.
Next Steps in Settlement Implementation
In order for the settlement to be finalized, local governments across the nation must agree to the terms agreed upon by the participating states. A bankruptcy court hearing is also scheduled to facilitate the advancement of the settlement process, ensuring that the funds can be utilized effectively to combat opioid misuse and support those affected by addiction.
This landmark settlement signifies a major step towards addressing a crisis that has affected countless lives in Louisiana and across the country, marking a significant milestone in the ongoing battle against opioid addiction.
Deeper Dive: News & Info About This Topic
- WWL TV
- Wikipedia: Opioid Crisis in the United States
- New Orleans City Business
- Google Search: Opioid Settlement Louisiana
- NOLA
- Encyclopedia Britannica: Opioid
- L’Observateur
- Google News: Purdue Pharma Settlement
- NOLA
