OxyContin maker Purdue Pharma LP and its owners, the Sackler family, are in disc...
- OxyContin maker Purdue Pharma LP and its owners, the Sackler family, are in discussion to settle more than 2,000 opioid lawsuits against the company for $10 billion to $12 billion, two people familiar with the matter said on Tuesday.
Purdue said it was actively working with state attorneys general and other plaintiffs to reach a resolution, without specifying a settlement amount.Representatives for Purdue and the Sackler family held discussions with cities, counties and states on the contours of the potential multibillion-dollar settlement last week in Cleveland, said a person familiar with the matter.
All the parties face a Friday deadline to update a federal judge on the status of the negotiations, the person said. The plan under discussion envisions Purdue restructuring into a for-profit “public benefit trust” that would last for at least a decade, one of the people familiar with the matter said.
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