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.
