who goes from being a private company hauled by the sackler family into a public beneficiary trust so whatever they make from this point forward goes into a trust which then. all the profits go to plaintiffs in the case which of course as we see more and more of these are municipalities small towns counties states and also native tribes indigenous people of the country who sit them for things they've done on tribal lands in addition. they are family or produce farm is has been working on the. addiction treatment drugs which oddly enough have taken them for ever so long to figure out they have all these things to help fight the addiction the disease that they are using to profit off of sick people and so now here you have they are saying that in part of this settlement would be that they would have to fast track their develop they would be under right now they'd have to give them to the public for free at no charge and also that they would fast track review status by the f.d.a. in order to get those anti addiction drugs on the market as quickly as possible for . ruled out to grovel to

family and produce pharmaceuticals in a rather negative light richard sackler then the president oversaw the creation of some public health advocacy groups it's implied that the american pain society and the now defunct american pain foundation operated almost as front groups then president richard sackler explained his motives our goal is to buying these organizations more closely to us than here to for but also to align them with our expanded mission and to see that the fate of our products are next to it could we pound up with the trajectory of the pain movement that these organizations works to convince the us public that came related issues were not being properly addressed however that's not all the e-mails have shown dr kathleen foley a neurologist who was also a paid speaker for produce pharma urged richard sackler to expand and to collaborate with other drug companies who stood to make a profit from an expansion of pain awareness. i'm thinking of an alternative strategy of bringing together all the members of the pharmaceutical industry who have drugs out there and trying to com

this could essentially force the sackler family out of the opioid business to the tune of $4500000000.00 just their own expenses but are just bankruptcies and fines and does that bring justice to the millions upon millions of lives destroyed by the opioid epidemic let's find out as we start watching the whole us. go to. the. real thing it's like. as you said a lot of. what they like you know that i got. with. this. is exactly. what the watching the harks i am tyrrel for the time topical i. live you know tablets interesting because you've actually i've we have ordered through a long time and i would say probably the sackler family in the for per do pharma is probably a close 2nd to lead the jeffrey upstream case for something that you've followed for a long time since you started this group like digging into what their accountability and what they have done through the opioid crisis yeah they've got a lot of you do i do have a way some of the worst you know as a woman on the internet you sort of are used to a certain amount of the rats or foul things coming to you but it was actually a th

i am curious i don't know how much the sacklers are worth it's way more than $3 billion. so i don't know if this, you know, your reporting on nbc news' reporting on this has been, i'm not sure exactly how much, at what stage of the settlement process we're in that those numbers came out of. whether it's actually been agreed upon or not i would imagine all of this will shake out over the next little while. but it's interesting because the publicity, i think, is kind of changing the game a little bit i don't think people will be satisfied with these numbers i mean, i'm here in west virginia, which is kind of a ground zero for this epidemic. and people are angry you know, i don't think 10 or $12 is going to be accepted. >> john, thanks, very much, john temple for joining us. meg terrell with your reporting as well, thanks, >>> ahead on power lunch, our power player, shaq is in the house. the nba legend will joins live to talk sports, business and a whole lot more retail stocks rallied more than 2% after the break we'll tell you the one stock in the group traders say is screa

as part of a possible settlement to resolve thousands of federal and state lawsuits the sackler family would give up ownership of purdue pharma the company blamed for much of the opiate epidemic and pay 3000000000 of their own money but for that but the punishment for the socceroos wouldn't end there the times goes on report that in addition to that there are $3000000000.00 cash payout the sackless would sell another drug company they own monday pharma and contribute an additional $1500000000.00 from the proceeds. this could essentially force the sackler family out of the opioid business to the tune of $4500000000.00 just their own expenses but are just bankruptcies and fines and does that bring justice to the millions upon millions of lives destroyed by the opioid epidemic let's find out as we start watching the whole us. go to. the. real thing it's like. as you said a lot of. what they like you know that i got. with. this. is exactly. what the watching the harks i am entire over the top of the hour. live you know tell us interesting because you've actually i've we have ordered throug

also a paid speaker for produce pharma urged richard sackler to expand and to collaborate with other drug companies who stood to make a profit from an expansion of pain awareness i'm thinking of an alternative strategy of bringing together all the members of the pharmaceutical industry who have allergies or drugs out there and try to come together as a sort of he's if you recognizing that your particular drug has been recently identified in the newspapers as a drug issue how the pain awareness campaign may have resulted in giving some people a temporary buzz but the pain felt by u.s. society in the aftermath of the resulting opioid epidemic is far greater in serious clear that produce and other manufactures from very early on were interested in one being that was their bottom line being really indifferent to the well being of patients who would actually be taking the opioids that they were peddling and their wanted gender was to make money so pilate manufacturers played a major role in the current american hope you would have to demick they were not the sole and to do responsible for

family and produce pharmaceuticals in a rather negative light richard sackler then the president oversaw the creation of some public health advocacy groups it's implied that the american pain society and the now defunct american pain foundation operated almost as front groups that these organizations works to convince the u.s. public that pain related issues were not being properly addressed however that's not all the. have shown dr cathleen foley a neurologist who was also a paid speaker for produce pharma urged richard sackler to expand and to collaborate with other drug companies who stood to make a profit from an expansion of pain awareness i'm thinking of an alternative strategy of bringing together all the members of the pharmaceutical industry who have drugs out there and trying to come together as a sort of he's if you recognizing that your particular drug has been recently identified in the newspapers as a drug issue now the pain awareness campaign may have resulted in giving some people a temporary buzz but the pain felt by u.s. society in the aftermath of the resulting opioid

the sackler family is said to be in talks to setting thousands of lawsuits. that potential settlement could cost the family billions, that billions with a "b," billions of dollars. cnn's alexandria field has been following this story. this is really an attempt by the family to draw a line in the costs of these lawsuits? >> this may be an attempt to separate themselves from further litigation down the road and also settle the matter because you're talking about states, counties, cities, municipalities coming after purdue by the thousands. many of those cases being rolled up into federal cases this summer. this would potentially address those claims and future claims as well. there are details of a possible settlement coming from "the new york times," "the washington post" pegged the settlement as some $3 billion coming from the sackler family itself. we know for years now sackler and purdue pharma have been fighting off allegations about fueling the opioid epidemic in this country with the introduction of oxycontin in 1996. propublica has retained some video f

richard sackler. members of his family own the company, which made billions developing and selling oxycontin. according to the government, it's one of the most common painkillers involved in prescription opioid deaths in america. >> do you know whether oxycontin is more powerful or less powerful a drug than morphine? >> depends what you mean by powerful. if powerful means potency, absolutely. it is twice as potent as morphine. >> reporter: the clips were released by the investigative news group propublica. they come from a lawsuit filed by the state of kentucky in 2007. >> purdue fought very hard and the sackler family fought very hard to keep this deposition secret. >> reporter: under oath, sackler said it was wrong to blame the opioid crisis on their marketing. but the company ended up settling, paying more than $20 million. >> there is no way that this intended or had the effect of causing physicians to overlook the fact that it was twice as potent. it was called out in virtually every promotional

reporting that as part of a possible settlement to resolve thousands of federal and state lawsuits the sackler family would give up ownership of the company blamed for much of the opiate epidemic and pay $3000000000.00 of their own money but for that but the punishment for the socceroos wouldn't end there the times goes on report that in addition to that there are $3000000000.00 cash payout the sackless would sell another drug company they own monday pharma and contribute an additional $1500000000.00 from the proceeds this could essential to force the sackler family out of the opioid business to the tune of $4500000000.00 just on their own expenses but are just bankruptcies and fines enough does that bring justice to the millions upon millions of lives destroyed by the opioid epidemic. let's find out as we start watching the honks. the to. treat the day like real that this would be the last to get to the bottom. of. what they like you know that i got. with. with. this. because i. was on the watching the harks i am tyrrel for the time topical i. live you know tell us interesting because you've

and the sackler family would give up its stake in the company and pay at least $3 billion of its own money. it wouldn't be the company's first settlement, or admission that it made billions selling pain pills. >> do you know how much the sackler family has made off the sale of oxycontin? >> i don't know. >> but fair to say it's over a billion? >> it would be fair to say that, yes. >> dr. richard sackler, purdue pharma's former president and current chairman, answered questions, during a 2015 deposition for a lawsuit brought by the state of kentucky. the tapes were first obtained by pro publica. >> do you believe that any of purdue's conduct has led to an increase in people being addicted in the commonwealth of kentucky? >> no. >> reporter: purdue settled that case months later for $24 million. yet, years before, the company and three executives had already pleaded guilty in federal court to misleading and defrauding doctors and consumers about oxycontin and agreed to pay more than a $600 million fine. >> for these misrepresentations and crimes, purdue and its executives have been bro

richard sackler's deposition from a 2015 lawsuit. >> do you know how much the sackler family has made off the sale of oxycontin? >> i don't know. >> but fair to say it's over a billion dollars? >> it would be fair to say that, yes. >> do you know if it's over $10 billion? i don't think so. >> do you know if it's over $5 billion? >> i don't know. >> all right. >> reporter: that suit was resolved with the settlement. as for the latest talks of a settlement, purdue put out a statement saying this. while purdue pharma is prepared to defend itself vigorously, the company sees little good coming from years of wasteful litigation and appeals. the people and communities affected by the opioid crisis need help now. and john and alisyn, as you point out, all of these details about a possible settlement breaking just on the heels of that important decision in oklahoma in which a judge decided that johnson & johnson needed to be held responsible saying they should pay $572 million. >> all right. stay on this for us. it seems it's developing very quickly. >> thank you. >>> the attorney general of

it just so happens that the sackler family and warren kander's are major patrons. -- art patrons. there is a tremendous movement to remove the sackler family and kander's from various cultural institutions. protestersf this is are alleging that cultural institutions are in whatever way forward-looking and liberal and worldviews that are completely in opposition to people like the sackler's in the cannabis family. the culture that institutions in whatever way, the kander's and sackler's benefit in a way they should not. jason: let's take a step back because what you just laid out goes to the very core of how institutions -- culture institutions have been funded for centuries. maybe millennia in some ways. >> the entire thing is in europe, institutions are funded by the government. in the united states, cultural institutions have our ways been paid for by wealthy people. peopleu.s., most wealthy have made their money in ways that are not necessarily blameless. there is a finite number of people whose fortunes are derived from green energy. everyone else is in whatever way potentiall

richard sackler related to a 2015 lawsuit against the company. listen to this. >> do you know how much the sackler family has made off the sale of oxycontin? >> i don't know. >> but fair to say it's over a billion dollars? >> it would be fair to say that, yes. >> do you know if it's over $10 billion? >> i don't think so. >> do you know if it's over $5 billion? >> i don't know. >> that lawsuit was resolved with a settlement, this would be a far bigger settlement, certainly the biggest one related to the opioid crisis. and it would essentially resolve all the outstanding claims against purdue. we're talking about thousands of them coming from state, counties, cities, municipalities across the country. >> what does the oklahoma decision against johnson & johnson --cases, and is that drg this motivation to settle? >> it very well could. these discussions have been going on for weeks, if not months, at this point with a federal trial approaching in october. certainly the judge in oklahoma has sent a strong message to pharmaceutical companies. he sided

purdue pharma ready to make a deal the makers of oxycontin and its owners the sackler family offering between 10 and 12 billion dollars to settle more than 2,000 lawsuits linked to the opioid crisis. >> it's very significant never before have we ever seen a member of a private industry offer so much money to try to deal with a public health crisis of this magnitude. >> reporter: people familiar with the deal tell nbc news purdue would file for chapter 11 bankruptcy and restructure the company into a for profit trust run independently. profits from sale of the drugs would go to the cities, counties, and states who have accused 3urd yue of pushing the powerful painkillers despite knowing the risks. video of former chairman dr. richard sackler's deposition published by pro publica >> the way the sales scheme was set up, if they sold more oxycontin they made more money, basically? >> yes yes. the same as almost every other company in the industry. >> reporter: the sackler family ranked by "forbes" as the 19th richest in america, didn't return our requests for comment. purdue tells nbc whi

it just so happens that the sackler family and others are major art patrons. movementa tremendous from a lot of different people to remove the sackler family from various cultural institutions. the point of all of this is that protesters are alleging that cultural institutions are, in whatever way, forward-looking and liberal and espouse various worldviews that are completely in opposition to people like the sacklers. they feel these cultural institutions are art washing the names of these families in a way they benefit in a way they should not. jason: let's take a step back. what you have just laid out goes to the very core of how institutions, cultural institutions have been funded , for centuries, a millennia, in some ways. >> that is exactly right. the entire thing is that, in europe, institutions are funded by the government. in the united states, they have always been paid for by wealthy people. in the united states, most wealthy people have made their money in ways that are not necessarily completely blameless. there are only a finite number of people w

richard sackler. members of his family own the company which made billions developing and selling oxycontin. >> do you know whether oxycontin is more powerful or less powerful a drug than morphine? >> depends what you mean by powerful. if powerful means potency, absolutely. it is twice as potent as morphine. >> the clips from 2015 were released by the news group propublica. under oath sackler said it was wrong to blame the opioid crisis on their marketing but the company ended up settling paying $20 million. >> there is no way that this intended or had the effect of causing physicians to overlook the fact that it was twice as potent. it was called out in virtually every promotional piece of literature. >> and purdue pharma and the sackler family have denied the allegations in all those lawsuits. >>> a developing story out of rural virginia where a pro baseball player's family has been found murdered. police say the wife, child and of blake bivens were found dead at a home near the north carolina borde

the sackler family would no longer have any connection to the company. >> laura, thank you. laura strickler is an nbc news investigative journalist. we of course are going to stay on top of the story. right now in fact. because this all comes after a huge ruling in oklahoma where a judge ordered johnson & johnson to pay $572 million for its role in the opioid epidemic. the state argued that the consumer giant johnson & johnson and their subsidiaries created misleading marketing campaigns that overstated the effectiveness of opioid medications and downplayed their addictive nature. here's some of what the oklahoma attorney general michael hunter had to say about the ruling. >> what we are expecting them to do and what the judge ordered them to do is to begin to take responsibility for the mess in oklahoma. and i'm asking the ceo of that company to get his checkbook out and write this check so that we can start again addressing the problems they created in our state. >> this case could have a big impact on the thousands of similar suits across state and local governments. join

because the sacklers apparently are offering to contribute their own money. a significant sum. and that's very compelling considering that chapter 11 bankruptcy, one of the chief benefits to owners is that they don't lose any more of their personal money, other than the money they invested that is in the company. >> okay. so, you said this is something that all parties have to agree to. what are the largest impediments being agreed to on all fronts? >> logistics. that's it. you have so many different plaintiffs. some of them are political bodies, they're attorneys generals. and they have their own purpose in bringing this litigation. just of the fact that there's an offer, and a very large offer on the table at this point, doesn't necessarily mean it will be accepted. and if it is, it may take months to accept some global resolution like this. and any resolution for the defendants has to be global. they can't look to enter into these huge payouts if they think there are going to be more lawsuits coming from other states and other municipalities and other counties. >> it's fasci

no, i would describe the offer today by purdue pharma and the sackler family is kind of a first shot over the bow at a global settlement. i don't expect that the final deal, if there is one reached, will look anything like this one. so what do you expect it to look like? purdue pharma tried to put out its best foot forward in a way that signalled that the sackler family will no longer have a role in the company, that the family will be putting money in. but i think the numbers arejust much, much lower than what the plaintiff attorneys are looking for. frankly, the numbers i've heard cited as the family and the company could easily be 5—10 times what purdue actually suggested today. harry, even if it is much more money, what's the point, aside from holding the company responsible, will it actually help the people still in the grip of this crisis? you know, the cost of actually addressing the harm caused in the opioid crisis is roughly half a trillion. so it's very nice. another 10—12 billion would be literally a drop in the bucket. about 2% of what we need globally to solve this c

pharma and contribute an additional $1500000000.00 from the proceeds this could essentially force the sackler family out of the opioid business to the tune of $4500000000.00 just on their own expenses but are just bankruptcies and fines enough does that bring justice to the millions upon millions of lives destroyed by the opioid epidemic let's find out as we start watching the honks.

purdue pharma owned by members of the billionaire sackler family, best known as the developer of the painkiller oxycontin. >> do you know how much the sackler family has made off the sale of oxycontin? >> i don't know. >> but fair to say it's over a billion dollars. >> it would be fair to say that, yes. >> reporter: for the first time we're now seeing and hearing from dr. richard sackler, the former chairman and president of purdue pharma respond to questions under oath. >> do you believe that any of purdue's conduct has led to an increase in people being addicted in the commonwealth of kentucky? >> no. >> reporter: the clips part of a more than eight-hour video deposition from 2015 obtained by the investigative news organization propublica, sackler responding i don't know more than 100 times. >> do you know if it's over $10 billion? >> i don't think so. >> do you know if it's over $5 billion? >> i don't know. >> reporter: sackler questioned about the profiting and alleged aggressive marketing of the drug that's been linked to the u.s. opioid epidemic. >> these tapes represent the fi

he's going to talk to us about the sackler family, the consequences it is facing, johnson & johnson and what he personally is doing now to help save more lives. we are less than an hour to go til the closing bell. i'm deirdre bolton, in for liz claman. "the claman countdown" starts now. deirdre: breaking news. tropical storm dorian is now officially a hurricane. it is barreling towards the eastern coast of puerto rico. the national hurricane center says the storm has maximum sustained winds of 75 miles, even higher gusts. dorian forecast to grow into a category 3 hurricane as it makes its way towards the east coast of florida. checking right now on home improvement stocks, you can see a mixed picture at this hour. home depot and lowe's heading higher. we do have beacon roofing heading lower. >>> in the broader markets, you do have stocks bouncing back after yesterday's losses. green on the screen, financials and energy leading the way. taking a look at some story-specific stocks. tiffany shares moving higher. profits topping wall street estimates, maintaining its full year sales and ear

like i said, this is not the sackler family or purdue to cut one check for that they will sell units to raise some money, restructure for profits in the new company to raise some of that money and finance it through drugs and the cost of the drugs to help people with overdose situations, all of that is what goes into this an interesting development in light of johnson & johnson losing in that court case in oklahoma for $572 million. that's the story for right now we'll see if anything else develops after this. >> thanks. showing the quotes for j&j and the smaller pharma xens that might be exposed to some of these settlements or lawsuits. they're lower, pretty much at the lows, endo and others. i wonder if just the idea of this large settlement from purdue putting a bigger number out there for what the industry might be on the hook for. >> last week, a huge number for j&j and wasn't that large. now you have to game the numbers on the settlement. look at the market caps. bigger the company, the more to absorb it. those are the names to play and stay in. teva down 55% year to date. >> i

marketing lies like that have made americans today feel outraged purdue and the sackler family. who have lost. there was already a federal investigation of the pill manufacturer some 15 years ago. back in 2007 the company its executive board and its owner the sackler family faced charges of misleading doctors and patients about the drugs. but their lawyers among member dr leon e. the former mayor of new york had good contacts to the department of justice. in a move to keep the name produced pharma the oxycontin manufacturer and the sac lawyers out of the picture produce frederick and 3 board members guilty to misbranding the drug. they were given a total of $634500000.00 in fines but no prison sentence. it was a clever move by producer. around this time carol canara began working as a sales representative for perdue. they basically were willing. that around the company per day of. their building the government through medicare . through the department of. to the last thing and i don't think the producers necessarily stop their deceptive marketing tactics they were directing them

richard sackler's deposition published today by pro publica >> the way the sales scheme was set up, if they sold more oxycontin, they made more money basically. the same as almost every other company in the industry. >> reporter: the sackedler family ranked by forbes as the 19th rich est in america didn't return our request for comment purdue tells nbc while it is prepared to defend itself, it sees little good coming from wasteful litigation. the people and communities affected by the opioid crisis need help now. >>> accord being to the cdc, opioids have claimed more than 400,000 lives from 1999 to 2017. and susan allen samuels whose son joe survived an addiction to oxycontin says purdue isn't doing enough >> and they, quite frankly, didn't give a damn 10 to $12 billion now, what is one life worth >> and kristen joins us now. so how likely is the settlement >> reporter: right now it's just a proposal those close to negotiation say purdue told the attorneys if they don't take this deal, the company will declare bankruptcy and they warn that could result in much less money >> that could

oxycontin was the drug that helped the sackler brothers arthur mortimer and raymond expand their company produce pharma and to a pharmaceutical empire. the sac lawyers are often thought of as art patrons like here in new york's metropolitan museum they made generous donations to promote culture worldwide from montreal to copenhagen paris berlin and london. their company purdue pharma made over $35000000000.00 in sales with the painkiller oxycontin alone by the end of the 1990 s. the drug had become a household name due to aggressive marketing and false claims regarding the risk of addiction. 20 years on 1900000 americans are opioid addicks and more deaths are caused by overdose than by road accidents the epidemic is also due to authorities shortcomings. west virginia has the state with the highest a drug overdose rate in the us this is the epicenter of the opioid crisis. number needed. it was a good ships question that any drug really cold want to ever serve for is a good but uncommon and. on average throughout the course of a year in one sheet of 8 cases for cases there are several addr