Purdue Pharma reaches tentative settlement over opioid lawsuits

OxyContin maker Purdue Pharma has tentatively reached a settlement with more than 2,000 cities and counties, as well as with 23 state attorneys general who sued the company over its alleged role in the U.S. opioid epidemic. Under the proposed deal, the Sackler family — which owns Purdue — would give up control of the company. The company would file for bankruptcy, and would then set up as a trust dedicated to fighting the opioid crisis. The deal could be worth up to $12 billion, a quarter of which could be personal funds from the Sacklers. Still, some of the states involved were contesting the deal, arguing that the family’s contribution was insufficient.

And as many such opioid cases get settled, physicians and others on the front line of the crisis are urging that the money from these settlements be used to fight the opioid crisis — unlike what happened with money from tobacco settlements years ago. More here.