Purdue Pharma will likely file for bankruptcy and be split into separate companies, two people involved in the negotiations told The Times.
The owners of Purdue Pharma — including members of the Sackler family — have reached a tentative settlement agreement in thousands of lawsuits over what accusers say is misleading marketing of OxyContin that's been partly responsible for the US opioid crisis, the New York Times reported September 11. State attorneys general had previously asked the Sacklers to pay $4.5 billion, according to NPR.
The owners of Purdue Pharma — including members of the Sackler family — have reached a tentative settlement agreement in thousands of lawsuits over what accusers say is misleading marketing of OxyContin that's been partly responsible for the US opioid crisis, the New York Times reported September 11. State attorneys general had previously asked the Sacklers to pay $4.5 billion, according to NPR.
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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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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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Purdue Pharma Close to Settlement with Cities and Half of States Over Opioid CrisisPurdue Pharma is close to securing support from states and local governments for a multibillion-dollar deal that will enable it to resolve mounting litigation.
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Purdue Pharma Settles Lawsuit Over Its Role In Opioid Crisis: ReportsPurdue Pharma has reportedly settled a consolidated federal lawsuit made up of more than 2,000 cities and counties accusing the OxyContin maker of being responsible for the country’s sweeping opioid crisis
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Purdue Pharma Reaches Tentative Settlement In State And Federal Opioid LawsuitsThe settlement could be worth up to $12 billion.
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