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Sacklers Pay $7B, Purdue Becomes Knoa Amid Settlement Criticism

4/29/2026

35 8 Full Breakdown

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Sacklers Pay Settlement

Families of opioid victims testified that the settlement does not provide real justice for their suffering.
Purdue Pharma will dissolve and be replaced by the public-benefit company Knoa Pharma by the end of the week.
The Sackler family must pay up to $7 billion over 15 years, to government opioid-crisis programs.
Victims will receive $8,000-$16,000 each, with over 54,000 approving the deal and about 200 opposing it.

Right

Purdue Penalized

A federal judge imposed a $5.5 billion penalty on Purdue Pharma for its role in the opioid crisis.
Purdue Pharma will shut down by May 1 2026 and hand its assets to the new public-benefit firm Knoa Pharma LLC.
Company chairman Steve Miller apologized in court after victims described Purdue’s impact on families.
Acting Attorney General Todd Blanche called Purdue’s conduct a profit-driven betrayal of patient safety.

History

Historical Context

After the FDA approved Purdue Pharma’s OxyContin in 1995, the Sackler-owned firm launched aggressive marketing that boosted prescriptions from 670,000 in 1997 to over 6 million by 2002, sparking a nationwide opioid surge. Subsequent lawsuits forced Purdue into Chapter 11 and a $600 million 2007 settlement, and the 2022 settlement required the Sacklers to pay up to $6 billion as the company rebrands as Knoa Pharma.

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Sacklers Pay Settlement

Families of opioid victims testified that the settlement does not provide real justice for their suffering.
Purdue Pharma will dissolve and be replaced by the public-benefit company Knoa Pharma by the end of the week.
The Sackler family must pay up to $7 billion over 15 years, to government opioid-crisis programs.
Victims will receive $8,000-$16,000 each, with over 54,000 approving the deal and about 200 opposing it.

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