Purdue and Sackler family agree $7.4bn OxyContin settlement

“We are extremely pleased that a new agreement has been reached that will deliver billions of dollars to compensate victims, abate the opioid crisis, and deliver treatment and overdose rescue medicines that will save lives,” Purdue said in a statement.

The deal still needs court approval, and some of the details are yet to be ironed out, but AP says it is among the largest settlements reached in a series of lawsuits by local, state, Native American tribal governments and others seeking to hold companies responsible for the deadly epidemic.

Under President Donald Trump, the federal government is not expected to oppose the new deal, according to AP.

Connecticut attorney General William Tong told Reuters that the settlement would help provide closure to victims of the opioid crisis.

“It’s not just about the money,” Tong said. “There is not enough money in the world to make it right.”