Attorney General Dave Yost has announced that 49 states, the District of Columbia, and five U.S. territories have agreed to a $7.4 billion settlement with Purdue Pharma and its owners, the Sackler family. This settlement is subject to approval by a federal bankruptcy judge.
“This is another major step toward accountability and recovery,” said Yost. “The money won’t undo the damage, but it will help communities in Ohio and elsewhere continue to address and overcome the unspeakable harm.”
Under Sackler ownership, Purdue Pharma manufactured and marketed opioid products for decades, contributing to a significant drug crisis in the United States. The settlement ends the Sackler family’s control of Purdue and prohibits them from selling opioids in the country.
Settlement funds will be distributed over 15 years to support addiction treatment, prevention, and recovery services nationwide. Ohio state and local governments stand to receive up to $198 million from this agreement.
The resolution of claims by state and local governments depends on bankruptcy court approval, with a hearing scheduled soon. Subject to this final approval, funds will be allocated according to the OneOhio plan: 55% to the OneOhio Recovery Foundation, 30% to local governments, and 15% to the state.
This settlement is part of a series of agreements brokered by Attorney General Yost for opioid recovery funding in Ohio. Previous settlements include:
– An $808 million settlement with opioid distributors Cardinal Health, McKesson, and AmerisourceBergen.
– A $185 million settlement with Johnson & Johnson and Janssen Pharmaceuticals Inc.
– A $24.7 million settlement with McKinsey & Co.
– A $114 million settlement with Walmart.
– A $679 million settlement with drug makers Teva and Allergan and pharmacies CVS and Walgreens.
Joining Attorney General Yost in securing this settlement were attorneys general from D.C., every state except Oklahoma, as well as American Samoa, Guam, Northern Mariana Islands, Puerto Rico, and U.S. Virgin Islands.
