The Sackler family will now relinquish control of Purdue Pharma and cease sale of opioids in the U.S. as part of a $7.4 billion settlement.

Purdue Pharma announced its settlement with all 55 attorneys general on Monday after longstanding allegations.

It is understood that members of the Sackler family will contribute $6.5 billion of their personal fortunes to the payouts, while Purdue Pharma will give around $900 million.

Purdue Pharma and Sackler family members who own the company have reached a $7.4 billion settlement with all 50 states and U.S. territories over the company's improper marketing of opioids.

OxyContin maker Purdue Pharma ‘s $7 billion-plus plan to settle thousands of lawsuits over the toll of opioids will go before a judge Friday, potentially setting up votes on whether to accept it for ...