Purdue Pharma to Plead Guilty, Pay $8.3 Billion Over Opioids (3)

<-bsp-bb-link state="{"bbHref":"bbg://securities/106180Z%20US%20Equity","_id":"00000175-4cf2-da3c-a177-cefa864e0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Purdue Pharma LP will plead guilty to three felonies and pay $8.3 billion to settle federal probes of how it marketed OxyContin, the highly addictive painkiller blamed for helping spark the U.S. opioid epidemic.

The agreement calls for Purdue’s owners, members of the billionaire Sackler family, to make an immediate $225 million payment to the government and for the company to pay $250 million after its bankruptcy is concluded, the U.S. Department of Justice said Wednesday. The remaining amount owed by Purdue will be counted toward the company’s payout to its creditors, court records show.

The deal is likely to ...