OxyContin maker Purdue Pharma is expected to file for bankruptcy after settlement talks over the nation's deadly overdose crisis hit an impasse, attorneys general involved in the talks said Saturday.
CLEVELAND — OxyContin maker Purdue Pharma is expected to file for bankruptcy after settlement talks over the nation's deadly overdose crisis hit an impasse, attorneys general involved in the talks said Saturday in a message to their counterparts across the country.
The email from the attorneys general of Tennessee and North Carolina, obtained by The Associated Press, said that Purdue and the Sackler family had rejected two offers from the states over how payments under any settlement would be handled and that the family declined to offer counterproposals.George Frey / Reuters file
Those lawsuits are likely to continue but face a significant hurdle because it's believed the family — major donors to museums and other cultural institutions around the world — has transferred most of its multibillion-dollar fortune overseas. In March, Purdue and members of the Sackler family reached a $270 million settlement with Oklahoma to avoid a trial on the toll of opioids there. The Sacklers could not immediately be reached for comment Saturday.
In their latest offers, the states also sought more assurances that the $4.5 billion from the Sacklers would actually be paid, according to the message circulated Saturday:"The Sacklers refused to budge." The nearly 2,000 lawsuits filed by city and county governments — as well as unions, hospitals, Native American tribes and lawyers representing babies who were born in opioid withdrawal — have been consolidated under a single federal judge in Cleveland.
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