Purdue Pharma, the Oxycontin manufacturer that fueled most of the opioid crisis, scored a preliminary Agreement with community and tribal lawyers across the country, according to the Washington Post and the New York Times.
Purdue's fraudulent and aggressive marketing of oxycontin has led to a rapid increase in opiate abuse since the late 1990s. According to the Centers for Disease Control and Prevention, about 130 Americans die every day from an overdose of opioid.
The Times reports that Purdue Pharma has been dissolved in the settlement and a new company is founded to sell Oxycontin with proceeds to disburse the plaintiffs. Purdue and its owners, the Sackler family, are reported to be spending $ 10-12 billion to settle the settlement. In a tragedy that has left hundreds of thousands of victims dead, the Sacklers have spent $ 3 billion on their own for their leadership.
The comparison, according to the Times, does not provide any admission of wrongdoing.
Purdue Pharma told Gizmodo, "Purdue Pharma continues to work with all plaintiffs on a comprehensive resolution of its opioid litigation. It will make billions of dollars and vital drugs for overdose of opioids available to communities across the country affected by the opioid crisis deliver. "
According to the Washington Post, a group of lawyers representing districts, cities and other corporations A consolidated federal lawsuit is interested in accepting the settlement. However, some of the 22 Attorney Generals who have sued the company and the Sacklers do not support the deal because they want the Sacklers to give more of their personal wealth that has emerged from their opioid empire.
"Connecticut has not agreed to an agreement," Attorney General William Tong said in a statement to The Times. "Our position remains firm and unchanged, and nothing has changed for us today … I can not predict whether Purdue will file for bankruptcy, but I can only say that we are prepared to aggressively pursue this case everywhere."
The efforts of the Sackler family to impose a significant personal fine have been a constant obstacle to reaching an agreement.
"The families who were violated by Purdue and the Sacklers have said loud and clear that this case requires real accountability," said the Attorney General of Massachusetts Maura Healey to CNBC in a statement explaining why she did not accept the settlement. "It's critical that all the facts become known about what this company, its executives and directors have done, that they apologize for the damage they have done and that no one benefits from breaking the law."