Purdue Oxy Settlement Offer Greeted With WTH
Company Offers to "Pay" Part of Settlement with Addiction Pharmaceuticals While the Sackler family has upped the ante, the settlement is met with some groans and skepticism. Jessica Hartogs, Editor at LinkedIn News: "Purdue Pharma has offered up a $10 billion restructuring plan that would pay $500 million up front to settle approximately 135,000 claims linked to the company's role in the opioid epidemic. The Sackler family would pay more than $4 billion over a decade and also give up domestic ownership of the company, which is alleged to have fueled the deadly national opioid crisis with its OxyContin drug. They would also admit no wrongdoing. Two dozen state attorneys general immediately rejected the plan, reported NPR." Charlie Kingdollar, Retired Emerging Issues Officer at Gen Re: Members of the Sackler family offered roughly $4.3 billion to resolve sprawling opioid litigation, up from $3 billion initially proposed in settlement discussions. Siladitya Ray, Staff Writer, Forbes: "The new settlement plan put forth by the Sacklers is $1.3 billion higher than their original offer and if approved it will be used to reimburse states, local governments, Native American tribes and other plaintiffs who have successfully sued Purdue for its role in fueling the opioid crisis... As part of the proposal, the $4.28 billion from the Sacklers will be paid in installments over [...]