Opioid maker Purdue Pharma shuts down
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Knoa Pharma is 100% owned by the newly established not-for-profit Knoa Foundation, a 501 (c) (4). This governance structure, which will ensure strong oversight of the company as it delivers on its purpose, establishes two independent boards comprising individuals who have no prior association with Purdue:
The $7.4 billion settlement includes funding for communities nationwide, as well as money for individual victims and groups who filed claims in the wake of Purdue’s bankruptcy. $75.6 million of that settlement goes to Colorado.
Purdue Pharma will pay the DOJ $225 million in a criminal settlement and members of the Sackler family who own the Oxycontin-maker also contribute billions of dollars to a bankruptcy deal, but the private drug firm's leaders will avoid prison time.
Monroe County will provide millions of dollars to keep a drug treatment center in Gates open around the clock for the next five years.