The Sackler Family Withdrew More Than $10 billion from Purdue Pharma As the Opioid Crisis Grew
The Sackler Family Withdrew More Than $10 billion from Purdue Pharma As the Opioid Crisis Grew
According to a report filed on November 16, 2019, the Sackler family withdrew more than $10 billion from Purdue Pharma since January 1, 2008. The 350-page report is a result of an audit commissioned by Purdue Pharma as part of the company’s bankruptcy proceedings. Since January 1, 2008, Purdue Pharma distributed $4.1 billion in cash to the Sacklers, $1.6 billion to companies affiliated with the Sacklers and $4.6 billion to pay for taxes. The distributions to the Sackler family increased significantly after Purdue Pharma’s 2007 plea deal with the Justice Department on a felony charge of misleading and defrauding physicians and consumers. Purdue Pharma and the Sackler family are facing thousands of lawsuits brought by state and local governments.
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