Attorneys: OxyContin maker agrees to tentative settlement
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HARTFORD, Conn. — Attorneys for some 2,000 local governments say they have agreed to a tentative settlement with OxyContin maker Purdue Pharma over the toll of the nation’s opioid crisis.
Attorney Paul Farrell said in a text message Wednesday that they have agreed to a deal that has been on the table for several weeks.
Sources with direct knowledge of the talks say that Stamford, Connecticut-based Purdue will pay up to $12 billion over time and that the Sackler family, which owns the company, will give up control. The sources spoke on condition of anonymity because they were not authorized to speak publicly.
The offer is the same as one publicly reported several weeks ago. It was not clear whether the announcement signalled the end of the fraught negotiations to reach a nationwide settlement with Purdue or moved the talks into a new phase.
