Sacklers near deal to increase opioid settlement in Purdue bankruptcy

FILE PHOTO: Bottles of prescription painkiller OxyContin made by Purdue Pharma LP on a counter at a local pharmacy in Provo - Members of the Sackler family who own Purdue Pharma LP are nearing an agreement to boost their more than $4 billion offer to resolve sprawling opioid litigation after negotiating with states that had objected to terms of the OxyContin maker's bankruptcy reorganization, according to a court filing.

The mediation kicked off in January among Sackler family members and several states after a U.S. district judge overturned the original settlement, which was the cornerstone of Purdue's bankruptcy reorganization plan. The report described marathon negotiating sessions held on Jan. 25-26 in New York that ran more than 12 hours each day and involved two unidentified state attorneys general who participated in person and another who joined by Zoom.

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Sacklers near deal to increase opioid settlement in Purdue bankruptcyMembers of the Sackler family who own Purdue Pharma LP are nearing an agreement to boost their more than $4 billion offer to resolve sprawling opioid litigation after negotiating with states that had objected to terms of the OxyContin maker's bankruptcy reorganization, according to a court filing.
Source: Reuters - 🏆 2. / 97 Read more »