Sources: OxyContin Maker Purdue Pharma Agrees To Pay Up To $12 Billion In Tentative Settlement
HARTFORD, Conn. (CBS/AP) — 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 signaled the end of the fraught negotiations to reach a nationwide settlement with Purdue or moved the talks into a new phase.
One of the sources speaking on condition of anonymity said more than 20 states also had agreed to the tentative settlement.
Chester County is one of those who filed suit.
"We have devoted a tremendous amount of resources to help address the crisis and the problem isn't going away. Funding is need to sustain the programs, services and additional resources we need to fight the opioid epidemic. Pharmaceutical manufacturers and distributors must shoulder a portion of that burden," Chester County Commissioner Michelle Kichline recently said.
But many state attorneys general say they remained opposed, and more than 20 have sued the Sacklers separately in state court.
(© Copyright 2019 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)