Purdue Pharma Provides to Settle Opioid Claims for US$10 bn to US$12 bn

 

Prude Pharma and its owners, the Sackler family are providing to settle more than 2,000 lawsuits against the company for US$10 bn to US$12bn. The latest deal was a part of confidential discussions and discussed by the Purdue’s lawyers at a meeting in Cleveland on Tuesday.

Brought by states, countries, and cities, the lawsuits have been combined into one massive case. The Sackler family and the company allege are responsible for sustaining and starting the opioid crisis.

According to the Centers for Disease Control and Prevention, the lawsuits that the Sacklers and the Purdue are looking to settle allege that their firm’s sales practice are deceptive and at least partially responsible for the opioid crisis that has claimed more than 400,000 lives from 1999 to 2017. Some litigations also allege that after 2007, the Sackler family has deprived the company to enrich themselves.

According to the two people familiar with the meeting states that at least 10 state attorneys general and the plaintiffs’ attorneys were gathered in Cleveland, where David Sackler has introduced the Sackler family. David Sackler, a board member of the company has recently been de facto family.

Gurbir Grewal, New Jersey Attorney General said in May that the Sackler family has built a drug empire of multibillion-dollar, which is based on addiction when his state joined the others in suing Sackler family and their company. In January, Massachusetts Attorney General, Maura Healey was the first member in the family who suit.

Purdue Pharma that makes an opioid painkiller, OxyContin and the Sackler family has denied the allegations, which laid out in lawsuits.

The company said that Purdue Pharma is prepared to protect itself in the opioid litigation and the company has made clear that it sees a little good coming from the years of wasteful lawsuits and appeals.

The company further added that the communities and the people are distressed by the opioid crisis and are need to be help. Purdue believes that a construction of a worldwide resolution is the best route forward and the company is actively working with the state attorneys general and the other plaintiffs’ for achieving the outcome.

A representative for the Sackler family has not responded to a request for comment.