Judge to explain why he’s approving Purdue Pharma settlement plan, which calls for $7B from Sacklers

By GEOFF MULVIHILL, Associated Press

A U.S. Bankruptcy Court judge is set to give his reasoning Tuesday for approving OxyContin maker Purdue Pharma’s plan to settle thousands of lawsuits over the toll of opioids.

The deal calls for members of the Sackler family who own the company to pay up to $7 billion over time.

Judge Sean Lane said last week that he would accept the plan, which ranks among the largest opioid settlements ever and would do something other major ones don’t: Pay some victims of the crisis.

Sackler family members agreed to pay up to $7 billion over 15 years, providing most of the cash involved in the settlement.

The funds distributed to state, local and Native Americans is to be used mostly to address the opioid crisis, as has been the case with other opioid settlement