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Sacklers close to an agreement to increase opioid settlement in Purdue's bankruptcy



(Reuters) – Members of the Sackler family who own Purdue Pharma LP are approaching an agreement to increase their offer of over $ 4 billion to resolve extensive opioid disputes after negotiating with states that had opposed the terms of the OxyContin manufacturer

Sackler's family members and states protesting the terms of Purdue's bankruptcy are "close to an agreement in principle" to provide additional cash in addition to the $ 4.325 billion they had promised to resolve opioid disputes, according to a mediator's report. filed Monday.

An agreement involving members of the Sackler family and several state prosecutors could potentially end a legal challenge that has prevented Purdue from going bankrupt, and pave the way for a plan aimed at helping reduce opioids.

Mediation began in January among Sackler's family members and several states after a district in the United States The judge overturned the original settlement, which was the cornerstone of Purdue's bankruptcy reorganization plan.

The judge found that the reorganization plan wrongly protected Sackler's family members, who had not applied for Chapter 1

1 themselves, from opioid disputes. She requested that the talks be extended to February 7, a request that could be considered at a bankruptcy hearing on Tuesday.

prosecutors who participated in person and another who joined Zoom.

The settlement agreement had been opposed by at least eight state prosecutors, including Bob Ferguson in the state of Washington and William Tong in Connecticut.

Purdue, the maker of the highly addictive opioid painkiller OxyContin, filed for bankruptcy in 2019 before thousands of lawsuits accused it and Sacklers of inciting the US opioid epidemic through misleading marketing. The opioid crisis has led to nearly 500,000 overdose deaths over two decades, according to US data.

Sackler's family members have denied wrongdoing. Purdue pleaded guilty in November 2020 to three offenses arising from its handling of OxyContin.

Several members of the Sackler family testified during Purdue's bankruptcy trial that their contribution to the settlement was conditional on their "global peace" from opioid disputes. [1296590] ]


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