Wednesday, August 28, 2019

OxyContin maker Purdue Pharma reportedly offering opioid settlement up to $12B

From JSOnline:

OxyContin (Photo: USA TODAY)

OxyContin maker Purdue Pharma is reportedly offering a sweeping settlement worth $10 billion to $12 billion to resolve claims that it bears responsibility for the nation's opioid crisis.

The company made the confidential offer in talks involving more than 2,000 lawsuits, including cases brought by state and local governments, NBC News reported Tuesday.

The deal would settle allegations that Purdue engaged in deceptive marketing about deadly and addictive opioids to enrich itself.

It would reportedly involve Purdue Pharma and the family behind the company, the Sacklers, as well as a planned Chapter 11 bankruptcy filing that would wipe out the family's stake in and control of the company.

No comments: