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Several states and a number of opioid victims oppose the settlement, however.
“The DOJ settlement is a critical building block,” Judge Robert Drain said.
Purdue Pharma must plead guilty to three criminal charges, including conspiracy to defraud the United States and violating anti-kickback laws.
The Justice Department wants Purdue Pharma to become a public benefit corporation, meaning it will be governed by a trust that has to balance its interests against those of the American public and public health. If that term is met, the Justice Department would take $225 million and forgo $1.775 billion that would instead be sent to the states for opioid abatement.
“Purdue Pharma will never emerge from Chapter 11,” Huebner said.
Several states and a number of opioid victims oppose the settlement, however. They argue it’s too lenient on the controlling members of the Sackler family and reorganizes Purdue Pharma as a public benefit corporation, effectively putting the federal government in the opioid business.