Health
US Supreme Court Halts Purdue’s $6 Billion Opioid Pact, Will Hear Appeal
- Justices to hear arguments later this year on bankruptcy plan
- Biden administration says accord can’t shield Sackler family
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The US Supreme Court agreed to consider scuttling Purdue Pharma LP’s $6 billion opioid settlement, taking up a Biden administration appeal that contends the accord improperly shields the Sackler family members who own the company.
High court review threatens Purdue Pharma’s bankruptcy reorganization plan, which would end a mountain of litigation against the OxyContin maker and funnel billions of dollars toward efforts to abate the opioid crisis. As part of the accord, family members have agreed to give up ownership of the company and pay as much as $6 billion.