BUSINESS NEWS
Tentative settlement reached in OxyContin, opioid case
Geoff Mulvihill and Dave Collins
Associated Press
Published 3:17 PM EDT Sep 11, 2019
HARTFORD, Conn. – Attorneys for some 2,000 local governments say they have agreed to a tentative settlement with OxyContin maker Purdue Pharma over the toll of the nation’s opioid crisis.
Attorney Paul Farrell said in a text message Wednesday that they have agreed to a deal that has been on the table for several weeks.
Sources with direct knowledge of the talks say that Stamford, Connecticut-based Purdue will pay up to $12 billion over time and that the Sackler family, which owns the company, will give up control. The sources spoke on condition of anonymity because they were not authorized to speak publicly.
The offer is the same as one publicly reported several weeks ago. It was not clear whether the announcement signaled the end of the fraught negotiations to reach a nationwide settlement with Purdue or moved the talks into a new phase.
One of the sources speaking on condition of anonymity said more than 20 states also had agreed to the tentative settlement.
But many state attorneys general say they remained opposed, and more than 20 have sued the Sacklers separately in state court.
Court: Amazon owes South Carolina millions in sales taxes
