Purdue Pharma Proposes $200M to Battle Opioid Crisis
Purdue Pharma has agreed to advance $200 million to battle the opioid crisis within six months in exchange for a pause on litigation against family members who own the company.
The offer gives a judge another element to consider as he decides whether to allow suits to move ahead against members of the Sackler family.
Half of U.S. states and hundreds of local governments are pushing for lawsuits to continue.
But the OxyContin maker says a proposed settlement of some 2,600 lawsuits against the company could be endangered if the suits continue because family members might not be willing or able to contribute at least $3 billion called for in the deal.
The deal was announced at a hearing in bankruptcy court Friday.