Purdue Pharma has reached an early proposed settlement with entities that are suing the company they believe has helped to fuel the opioid crisis in America, according to officials. The company is being sued by over 2,000 state, local and tribal governments. Still, many Attorneys General are opposing the settlements and vow to continue the fight.
The Sackler Family Makes An Offer
The Sackler family, which owns Purdue Pharma, previously offered $3 billion of their own profits plus a portion of future revenues from drug sales, and another $1.5 billion pending the sale of a family-owned international company, Mundipharma, said a person familiar with ongoing negotiations in a statement to CNN. Mundipharma sells pharmaceuticals outside the United States. Details of the proposed settlement and whether or not it will keep the company from filing for bankruptcy were not readily available.
Attorneys General Continue The Fight
Pennsylvania Attorney General Josh Shapiro said the case was “far from over.”
“This apparent settlement is a slap in the face to everyone who has had to bury a loved one due to this family’s destruction and greed. It allows the Sackler family to walk away billionaires and admit no wrongdoing.”
A spokesman for Ohio AG Dave Yost said in a statement, “AG (Dave) Yost continues to fight to get resources for those impacted statewide and has been actively involved in the negotiations.”
Paul Farrell, an attorney representing plaintiffs in the multidistrict litigation, told CNN, “We recognize a lot of work needs to be done but we feel good progress has and will continue to be made.”
He added that his office “continues to work with all plaintiffs on reaching a comprehensive resolution to its opioid litigation that will deliver billions of dollars and vital opioid overdose rescue medicines to communities across the country impacted by the opioid crisis.”
The Talks Continue
Purdue Pharma, the maker of painkiller OxyContin has been at center of the opioid crisis in America. The Sackler family, has been in talks to settle the multidistrict case for weeks, but has continuously denied any wrongdoing on their part.
We will keep you updated on this story as it unfolds.
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About the Author: Aisha K. Staggers is a writer, lecturer, political analyst and literary agent. She appears almost weekly for “Staggers State of Things” on the Dr. Vibe Show. Her work has been published by Paper Magazine, AfroPunk, The Spool, GREY Journal, MTV News, HuffPost, Blavity, Atlanta Blackstar, For Harriet, New York Review of Books and a host of other first-run publications and syndicated outlets. Find her on Twitter @AishaStaggers. For more of her work, check out her page here!