Purdue Pharma’s proposed settlement on Wednesday could provide some assurances about compensation for cities and counties with pending lawsuits, in the likely event that the opioid manufacturer files for bankruptcy, experts say. But several state attorneys general still balked at the deal as inadequate.

The settlement’s details remain unclear, but some reports have indicated that the Sackler family, who founded Purdue, would provide $3 billion over seven years, and that another $7 billion to $9 billion could come from future sales of OxyContin, its prescription opiate, as well as drugs designed to treat opioid addiction. The deal reportedly resolves the claims of about 2,500 cities and counties, plus half the states.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]