OxyContin maker Purdue Pharma seeking to settle 2,000 lawsuits for up to $12B

OxyContin maker Purdue Pharma and its owners, the Sackler family, are offering to settle more than 2,000 lawsuits against the company for $ 10 billion to $ 12 billion US, NBC News reported on Tuesday, citing people familiar with the matter.

Purdue said it was actively working with state attorneys general and other plaintiffs to reach a resolution, without specifying a settlement amount.

The potential deal was part of confidential meeting held in Cleveland last week between state attorneys general, plaintiffs’ attorneys and Purdue’s lawyers, the report said citing two people familiar with the mediation.

The lawsuits have accused the Stamford, Conn.-based company of aggressively marketing prescription opioids while misleading prescribers and consumers about risks from their prolonged use.

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CBC | Health News