Purdue Pharma LP and members of the wealthy Sackler family that own the OxyConti...
- Purdue Pharma LP and members of the wealthy Sackler family that own the OxyContin maker have reached a $270 million settlement to resolve a lawsuit by the state of Oklahoma accusing the company of helping fuel an opioid abuse epidemic, a person familiar with the matter said on Tuesday.
Hunter’s 2017 lawsuit accused Purdue, Johnson & Johnson and Teva Pharmaceutical Industries Ltd of deceptive marketing that played down the risks of addiction associated with opioid pain drugs while overstating their benefits. A trial judge earlier this month rejected the companies’ efforts to delay the trial. On Monday, the Oklahoma Supreme Court rejected their appeal of that decision.
Purdue’s settlement with Oklahoma relieves the immediate pressure on the drugmaker for a bankruptcy filing, said Alexandra Lahav, a professor at the University of Connecticut School of Law. She said the company likely was also in talks with others to settle.Opioids, including prescription painkillers, heroin and fentanyl, were involved in a record 47,600 overdose deaths in 2017 in the United States, according to the U.S. Centers for Disease Control and Prevention.
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