Sackler Family Issues Statement Regarding Purdue Pharma Bankruptcy

NEW YORK–(BUSINESS WIRE)–“Like families across America, we have deep compassion for the victims of the opioid crisis and believe the settlement framework—now supported by the attorneys general of 29 states and territories and the plaintiffs’ steering committee representing thousands of municipalities—is an historic step towards providing critical resources that address a tragic public health situation.

“It is our hope the bankruptcy reorganization process that is now underway will end our ownership of Purdue and ensure its assets are dedicated for the public benefit. This process will also bring the thousands of claims into a single, efficient forum where the settlement can be finalized, reviewed by the bankruptcy court to ensure it is fair and just and then implemented.

“We are hopeful that in time, those parties who are not yet supportive will ultimately shift their focus to the critical resources that the settlement provides to people and problems that need them. We intend to work constructively with all parties as we try to implement this settlement.”

Contacts

Ellen Davis/Bob Rendine

Sard Verbinnen & Co

212-687-8080

Sackler-SVC@sardverb.com

Clio Boele

Goldin Solutions

212-319-3451 x650

clio@goldin.com