Purdue Pharma is close to a settlement with cities and half of states over the opioid crisis
Purdue Pharma LP is close to securing support from states and local governments for a multibillion-dollar deal that will enable the drugmaker to resolve mounting litigation and restructure through bankruptcy, according to people familiar with the matter.
The embattled OxyContin maker and its owners, the Sacklers, have been fighting some 2,500 lawsuits brought by virtually every state as well as cities, counties and Native American tribes accusing the company of helping fuel widespread opioid addiction.
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Exclusive: Purdue Pharma nears partial opioid settlement, bankruptcy filing - sourcesOxyContin maker Purdue Pharma LP is nearing a partial agreement to resolve wides...
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The Sackler family could give up Purdue Pharma, source saysThe Sackler family could give up its ownership of Purdue Pharma and up to $4.5 billion of their own money, as one possible settlement option over the more than 2,000 lawsuits filed against their company, a person with knowledge of the negotiations tells CNN.
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Opioid talks break down; Purdue owners balk at paying $4.5 billionSettlement talks between Purdue Pharma and the states and cities suing the opioid maker stall after state officials ask for $4.5B instead of a discussed guarantee of $3B
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Pharma stocks fall as draft of House Democratic drug price plan surfaces on Capitol HillThe main thrust of the plan, which is still in flux, would allow Medicare to negotiate lower prices on the 250 most expensive drugs and apply those discounts to private health plans across the U.S.
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Democrats just floated a new plan to take on Big Pharma and bring down the price of prescription drugsA draft of the new plan — obtained by Bloomberg Law — would give the government far more authority over pricing.
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