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As part of the plan, members of the billionaire Sackler family pledged to contribute roughly $4.3 billion of their personal fortune — $1.5 billion more than previously promised.
In a bid to resolve thousands of lawsuits stemming from the opioid epidemic, members of the Sackler family pledged to contribute $1.5 billion more than previously promised, roughly $4.3 billion paid out over nine years from their personal fortune.
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The Globe and Mail Jan Hoffman and Mary Williams Walsh The New York Times Bookmark In a filing that signifies the beginning of the end of the United States’ most notorious manufacturer of prescription opioids, Purdue Pharma submitted its bankruptcy restructuring plan just before midnight Monday. The blueprint requires members of the billionaire Sackler family to relinquish control of the company and transforms it into a new corporation with revenue directed exclusively toward abating the addiction epidemic that its signature painkiller, OxyContin, helped create. The plan, more than 3...