Josephine County opts into Purdue Pharma bankruptcy settlement; county to receive roughly $1.08 million over 15 years

The Josephine County Board of Commissioners voted unanimously to opt into a proposed nationwide settlement related to Purdue Pharma and to approve Purdue Pharma's bankruptcy plan.

Wally Hicks, legal counsel to the county, told the board a proposed settlement with Purdue Pharma and members of the Sackler family “contemplates that the Sacklers will be paying an aggregate of $6,500,000,000 in 16 payments over 15 years, including 1,500,000,000 on the settlement's effective date.” Hicks said the county's share from the direct settlement component would translate to roughly $1,080,000 over the course of the 16 payments in 15 years.

The settlement money is separate from amounts that may be paid from the Purdue estate, Hicks said. He also described the participation process: eligible subdivisions within each participating state…