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In addition to the Sacklers losing control of the business, the Purdue Pharma bankruptcy is expected to result in the companys assets being taken over by a new company. For the first time during the long legal reckoning over the opioid crisis, members of the Sackler family who own Purdue Pharma heard directly from people who say their company's main product, Oxycontin, wrecked their lives. In public statements and in testimony before Congress in 2020, the Sacklers have described that narrative as inaccurate and unfair. Each year, the town of Greenwich, Conn., one of the countrys most affluent municipalities, puts together a Grand List of its taxable properties. That is a 'fraction of what we deserved to compensate for years of illness, family loss and death.'. I hope you ask for God's forgiveness for your actions. Sackler Family Accused of Hiding $1 Billion in Offshore Tax Havens The Sackler family, which owns Purdue Pharma, used Swiss and other hidden bank accounts to transfer around $1 billion from the company to themselves, the New York attorney general's office . Activists of P.A.I.N. In Appalachia, where opioid overdose deaths are among the highest in the nation, state officials were determined to confront the Sacklers with the proof of what OxyContin and heroin had done to their residents. Purdue Pharma deal giving Sackler family civil immunity from opioid In the settlement, Purdue Pharma would be dissolved and restructured as a new company called 'Knoa Pharma' that will develop and distribute overdose-reversal medicines and be run by independent board members (with no ties to the Sacklers). Settling the opioid lawsuits could cause the familys fortune to shrink more. The new plan still requires Drains approval. The Sacklers Are One of America's Richest Families Thanks to - Insider The Sackler family, creators of OxyContin, are trying to protect a dark, twisted empire BY Nicole Goodkind April 23, 2021, 2:30 PM UTC In 1996, Purdue Pharma released OxyContin, the. 'The Sackler families are pleased to have reached a settlement with additional states that will allow very substantial additional resources to reach people and communities in need,' the apology reads. Yesterday, the Sackler dynasty, owners of Purdue Pharma and makers of the powerful prescription painkiller, OxyContin, reached a landmark $6 billion agreement over its role in fueling the opioid epidemic that led to the deaths of more than 500,000 people. 'This settlement resolves our claims against Purdue and the Sacklers, but we are not done fighting for justice against the addiction industry and against our broken bankruptcy code.'. When someone overdoses from fentanyl, breathing slows and their skin often turns a bluish hue. They are not admitting any wrongdoing and no court has found any. Members of the super-rich Sackler family that profited from OxyContin "There is nothing newsworthy about these decade-old. The development and marketing of OxyContin was mainly the purview of Raymond's son, Richard Sackler, whojoined the family firm in 1971 after graduating from medical school. Christopher was first prescribed OxyContin at the age of 14 after a knee injury.