Oxycontin maker Purdue Pharma LP yesterday told a bankruptcy judge it hopes to broaden support for a proposed settlement of 2,600 lawsuits alleging it fueled the U.S. opioid crisis, but opponents of the deal highlighted looming legal battles, Reuters reported. A lawyer representing the company told U.S. Bankruptcy Judge Robert Drain that the case was an opportunity to end a “chaotic maelstrom” of litigation. Purdue filed for bankruptcy on Sunday after reaching an outline of a deal with states and local governments that have accused the company of deceptively marketing opioids by overstating benefits and downplaying risks. It has been accused of contributing to a public health crisis that has led to nearly 400,000 overdose deaths between 1999 and 2017, according to the latest U.S. data. The settlement, which Purdue estimates is worth more than $10 billion, would require the Sackler family to cede ownership of Purdue to a trust controlled by the plaintiffs that are suing it. In addition to turning over Purdue, the Sacklers would sell their non-U.S. pharmaceutical businesses and also contribute at least $3 billion of their own money.
