Delaware could receive nearly $50 million in tentative settlement with Purdue Pharma, Sackler family
Delaware Attorney General Kathy Jennings announced the state is part of a tentative settlement with Purdue Pharma and the Sackler family for their role in the opioid epidemic.
The total settlement with multiple states is worth as much as $6 billion - with Delaware receiving nearly $50 million -- which is up to $25 million more than the initial settlement plan.
Marion Quirk is the Director of the DOJ’s Consumer Protection Unit. She says the money Delaware receives will go to opioid treatment and prevention.
"All of which will be used for abatement. So that's abatement treatment, abatement prevention, and this settlement will allow more money to come to Delaware sooner."
At least $1 billion was added to the prior bankruptcy plan which was originally in the neighborhood of $4.5 billion.
Jennings and eight other AG’s negotiated for the additional money.
Marion Quirk is the Director of the DOJ’s Consumer Protection Unit, and she says the settlement still needs to be approved by the bankruptcy court.
"We are absolutely very happy about it, but I will note that it is subject to approval by the bankruptcy court. There is a hearing next Wednesday. The motion was filed today for bankruptcy court approval then ultimately the bankruptcy plan has to be confirmed."
As part of the settlement, institutions may remove the Sackler name from buildings, scholarships, and fellowships. The Sackler’s will be banned from the opioid business and Purdue will dissolve.
The Sackler’s also agreed to apologize to victims through a statement for their role in the opioid epidemic.