OxyContin maker Purdue Pharma reaches $270 million settlement related to opioid crisis, with $200 million earmarked for an opioid center at Oklahoma State University.
Purdue Pharma, the company that makes OxyContin, settled its first significant lawsuit on Tuesday related to its aggressive marketing of a painkiller that is part of the ongoing nationwideThe $270 million settlement with the state of Oklahoma marks a milestone for the company, which isand currently faces 1,600 additional lawsuits by cities, counties and states related to its role in the painkiller crisis.
Oklahoma Attorney General Mike Hunter's office, which filed the lawsuit, disclosed the terms of the deal at a press conference Tuesday afternoon. "The addiction crisis facing our state and nation is a clear and present danger. Last year alone, out of the more than 3,000 Oklahomans admitted to the hospital for a non-fatal overdose, 80 percent involved a prescription opioid medication," Hunter said. "Additionally, nearly 50 percent of Oklahomans who died from a drug overdose in 2018 were attributed to a pharmaceutical drug.
Hunter said the state struck the deal in part because of Purdue's potential bankruptcy, but that the settlement is structured in a way to guarantee the state will be paid, no matter what the company's financial fate may be.
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