Purdue Pharma files for bankruptcy

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Purdue Pharma files for bankruptcy
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As part of the deal, neither Purdue nor its controlling family need admit any wrongdoing

POWERFUL OPIOID painkillers have helped fuel a crisis of addiction and death in America in the past two decades. If one company has become the villain of this tragic tale, it is Purdue Pharma.

Under the deal, Purdue is to be reconstituted as a public trust. The plaintiffs in the Ohio case will receive future proceeds from sales of opioids, as well as drugs used to treat addiction to them . The deal is valued at some $10bn: perhaps $3bn from the Sacklers themselves and the rest from their company. Neither Purdue nor its controlling family need admit any wrongdoing.

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