Purdue Pharma exit plan gains steam with OK from more states
Geoff Mulvihill
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Copyright 2020 The Associated Press. All rights reserved
FILE - In this Oct. 21, 2020, file photo, Purdue Pharma headquarters stands in Stamford, Conn. In an agreement disclosed late Wednesday, July 7, 2021, in a filing in U.S. Bankruptcy Court in White Plains, N.Y., more than a dozen states have dropped their objections to OxyContin maker Purdue Pharmas reorganization plan, edging the company closer to resolving its bankruptcy case. (AP Photo/Mark Lennihan, File)
OxyContin maker Purdue Pharma’s plan to reorganize into a new entity that helps combat the U.S. opioid epidemic got a big boost as 15 states that had previously opposed the new business model now support it.
Jessica Hill / Associated Press
Calling them “villains for the history books,” the attorneys general of New York, Massachusetts and Minnesota on Thursday announced a $4.5 billion settlement with the Sackler family, which owns Purdue Pharma, the manufacturer of the drug OxyContin that contributed to the nation’s opioid addiction crisis.
New York Attorney General Letitia James, along with Massachusetts Attorney General Maura Healy and Minnesota Attorney General Keith Ellison, said the settlement is the largest amount ever paid out by an individual. If approved, about $4.3 billion will be distributed to nearly every state in the nation to help fund prevention, treatment and recovery programs; New York will get $200 million.
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MONTPELIER â Only nine states and the District of Columbia remain opposed to OxyContin maker Purdue Pharmaâs plan to reorganize into a new entity that helps combat the U.S. opioid epidemic, and Vermont is one of them.
Vermont Attorney General T.J. Donovan on Thursday said the agreement, filed in federal court, allows the family to walk away from statesâ legal claims against them with billions in assets, while states are still on the hook for the damage caused by opioid addiction.
âI do not support the proposed Purdue Pharma bankruptcy plan because it does not sufficiently hold the Sackler family accountable,â Donovan said Thursday in a press release.
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Purdue Pharma is the manufacturer of the drug OxyContin that contributed to the nation’s opioid addiction crisis. The Sackler family, which owns Purdue Pharma, has reached a $4.5 billion settlement with New York, Massachusetts and Minnesota.
Calling them “villains for the history books,” the attorneys general of New York, Massachusetts and Minnesota on Thursday announced a $4.5 billion settlement with the Sackler family, which owns Purdue Pharma, the manufacturer of the drug OxyContin that contributed to the nation’s opioid addiction crisis.
New York Attorney General Letitia James, along with Massachusetts Attorney General Maura Healy and Minnesota Attorney General Keith Ellison, said the settlement is the largest amount ever paid out by an individual. If approved, about $4.3 billion will be distributed to nearly every state in the nation to help fund prevention, treatment and recovery programs; New York will get $200 million.
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Calling them “villains for the history books,” the attorneys general of New York, Massachusetts and Minnesota on Thursday announced a $4.5 billion settlement with the Sackler family, which owns Purdue Pharma, the manufacturer of the drug OxyContin that contributed to the nation’s opioid addiction crisis.
New York Attorney General Letitia James, along with Massachusetts Attorney General Maura Healy and Minnesota Attorney General Keith Ellison, said the settlement is the largest amount ever paid out by an individual. About $4.3 billion will be distributed to nearly every state in the nation to help fund prevention, treatment and recovery programs; New York will get $200 million.