OxyContin maker agrees to tentative settlement over opioid crisis

Attorneys representing some 2,000 local governments say they have agreed to a tentative settlement with OxyContin maker Purdue Pharma over the cost of the opioid crisis.

Attorney Paul Farrell says in a text message Wednesday that they have agreed to a deal in which Stamford, Conn.-based Purdue would pay up to $12 billion US and have the Sackler family, which owns the company, give up control.

The payments are expected to go to state, local and tribal governments impacted in the crisis.

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 had moved the talks into a new phase.


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