Nevada Attorney General Aaron D. Ford announced that all 55 attorneys general from eligible states and U.S. territories have agreed to a $7.4 billion settlement with Purdue Pharma and its owners, the Sackler family. The agreement aims to resolve litigation related to Purdue and the Sacklers’ role in the opioid crisis across the United States.
The Sackler family has informed attorneys general of their intent to proceed with the settlement, which is subject to bankruptcy court proceedings. Local governments nationwide will now be asked to join the settlement as part of this process.
“Throughout my time in office, I have repeatedly stated that we will hold accountable those who have contributed to the ongoing opioid epidemic and its devastating impacts on the Silver State,” said AG Ford. “Today’s settlement is the latest action we have taken to hold those bad actors accountable. I am proud to see the Sackler and Purdue Pharma held responsible for their actions, and I am thrilled to see this money come into Nevada to help ensure we fight this epidemic from the ground up.”
Purdue Pharma, under Sackler ownership, produced and marketed opioid products for decades, contributing significantly to what has been described as the largest drug crisis in U.S. history. The terms of the settlement end both Sackler control over Purdue and their ability to sell opioids in the country. Over a period of 15 years, communities across America are set to receive funds aimed at supporting addiction treatment, prevention efforts, and recovery programs.
According to details provided by Ford’s office, Nevada’s state and local governments are expected to receive about $58 million from this settlement over 15 years. Most of these funds will be distributed within the first three years: The Sacklers will pay $1.5 billion initially; Purdue will contribute approximately $900 million in its first payment; followed by additional payments totaling $1.4 billion over three years.
As with previous opioid-related settlements, this agreement resolves legal claims brought by state and local governments against Purdue and the Sacklers. The finalization of local government participation depends on upcoming bankruptcy court approval.
With this new agreement included, Nevada has secured nearly $1.2 billion through settlements with companies implicated in fueling the opioid epidemic.
Attorney General Ford was joined in securing this settlement by attorneys general from every U.S. state and territory eligible for participation.
