Nebraska part of $7.4 billion settlement with Purdue and Sackler family over opioids

LINCOLN, Neb. (KLKN) — Nebraska Attorney General Mike Hilgers on Monday announced a nationwide $7.4 billion settlement in the opioid crisis.

All 55 attorneys general — representing all eligible states and U.S. territories — agreed to sign on to the settlement with Purdue Pharma and its owners, the Sackler family.

The Sackler family agreed to proceed with the settlement, which Hilgers said would resolve any litigation “for their role in creating and worsening the opioid crisis across the country.”

Under the Sacklers’ ownership, Purdue made and “aggressively” marketed opioid products for decades, Hilgers said.

The settlement ends the Sacklers’ control of Purdue and their ability to sell opioids in the U.S.

It is set to be the nation’s largest settlement to date in the opioid crisis.

Nebraska’s state and local governments will receive as much as $19.7 million from this settlement over the next 15 years.

Most of the funds will be distributed in the first three years.

The Sacklers will pay $1.5 billion.

Purdue will pay roughly $900 million in the first payment, followed by $500 million after one year, an additional $500 million after two years and $400 million after three years.