In all, the plan could be more than $10 billion over time. It calls for members of the Sackler family to give up control of the Stamford, Connecticut-based company so it can be turned into a new entity with profits used to fight the opioid crisis.
Purdue Pharma will plead guilty to three federal criminal charges as part of a settlement of more than $8 billion, Justice Department officials told The Associated Press.
OxyContin maker Purdue Pharma reached a tentative deal Wednesday with about half the states and thousands of local governments over its role in the nation’s deadly opioid epidemic.
A federal judge overseeing litigation related to the nation’s opioid epidemic ruled Tuesday that lawsuits targeting Purdue Pharma and other drug companies can move to trial even as the OxyContin maker tries to reach a settlement.
The multibillion-dollar settlement that the maker of OxyContin is negotiating to resolve a crush of lawsuits over the nation’s opioid crisis contains formulas for dividing up the money among state and local governments across the country, The Associated Press has learned.
State attorneys general and lawyers representing local governments said Tuesday they are in active settlement talks with Purdue Pharma, the maker of the prescription painkiller OxyContin that is facing billions of dollars in potential liability for its role in the nation’s opioid crisis.
For years, OxyContin maker Purdue engaged in deceptive marketing practices, according to a lawsuit filed in April by Attorney General Kwame Raoul. Now, Raoul’s office is seeking to add members of the company’s founding family as defendants.
A Connecticut-based opioid pharmaceutical manufacturer used deceptive marketing practices to increase prescriptions for its painkillers, according to a lawsuit filed by Illinois Attorney General Kwame Raoul.