The deal ends the Sackler family's ownership of the company and bans them from ever selling opioids in the U.S. again.

The multi-billion-dollar payment is meant to resolve claims that the drugmaker's pain medication, OxyContin, caused an opioid crisis.

The attorneys general of all 50 U.S. states, Washington, D.C. and four U.S. territories have agreed to a $7.4 billion settlement with bankrupt drugmaker Purdue Pharma, New Jersey Attorney General Matthew Platkin said on Monday.