A year into its Chapter 11 bankruptcy case, the New England Compounding Center’s owners and insurers agreed to a $100 million settlement for victims of tainted steroids linked to 64 deaths and more than 700 illnesses, with more than half of the cash coming from the owners.
The agreements in principle would resolve claims against the company and its insurers over fungal meningitis and other infections from the drugs. They include claims in federal multidistrict litigation launched in Boston in February. The agreements are subject to bankruptcy court approval. Other parties, including clinics accused of administering the drugs, that also face liability are not part of this settlement.
