TEVA - Supreme Court Decision Looms Over Purdue Pharma's $6B Opioid Settlement And Sackler Family Immunity | Benzinga
The fate of a $6 billion bankruptcy settlement involving Purdue Pharma, the maker of the powerful and addictive pain medication OxyContin, hangs in the balance as the U.S. Supreme Court prepares to hear arguments on Monday.
The settlement, which aims to address the devastating opioid epidemic, has been met with mixed reactions, with some praising its potential to provide much-needed relief while others criticize the immunity it grants the Sackler family, Purdue's wealthy owners.
Multi-billion-dollar Agreement At Stake
If approved by the Supreme Court, the settlement would allocate billions of dollars to addiction treatment and other relief efforts. It would also shield the Sackler family from lawsuits stemming from OxyContin's role in the opioid crisis. A group of opioid victims and the U.S. Trustee, a Justice Department watchdog, oppose the deal, arguing that it unfairly protects the Sacklers while depriving victims of their right to seek justice.
Non-debtor Release
The settlement's use of a non-debtor ...