The other shoe drops..Big Pharma..buying America off!!
Purdue Pharma offers $10 billion to $12 billion to settle opioid claims
"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. The potential deal was part of confidential conversations and discussed by Purdue's lawyers at a meeting in Cleveland last Tuesday, Aug. 20, according to two people familiar with the mediation.
Brought by states, cities and counties, the lawsuits — some of which have been combined into one massive case — allege the company and the Sackler family are responsible for starting and sustaining the opioid crisis.
At least 10 state attorneys general and the plaintiffs’ attorneys gathered in Cleveland, where David Sackler represented the Sackler family, according to two people familiar with the meeting. David Sackler, who was a board member of the company, has recently been the de facto family spokesperson.
The lawsuits that Purdue and the Sacklers are seeking to settle allege that their company’s sales practices were deceptive and at least partly responsible for the opioid crisis, which claimed more than 400,000 lives from 1999 to 2017, according to the Centers for Disease Control and Prevention. Some of the lawsuits also allege that after 2007 the Sackler family drained the company of money to enrich themselves.
“The Sackler family built a multibillion-dollar drug empire based on addiction,” New Jersey Attorney General Gurbir Grewal said in May when his state joined others in suing the Sackler family and their company. Massachusetts Attorney General Maura Healey was the first to name family members in her suit in January.
Purdue Pharma, which makes the opioid painkiller OxyContin, and the Sackler family have denied the allegations laid out in the lawsuits.
In a statement to NBC News, the company said: "While Purdue Pharma is prepared to defend itself vigorously in the opioid litigation, the company has made clear that it sees little good coming from years of wasteful litigation and appeals.""
Purdue Pharma offers $10 billion to $12 billion to settle opioid claims
"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. The potential deal was part of confidential conversations and discussed by Purdue's lawyers at a meeting in Cleveland last Tuesday, Aug. 20, according to two people familiar with the mediation.
Brought by states, cities and counties, the lawsuits — some of which have been combined into one massive case — allege the company and the Sackler family are responsible for starting and sustaining the opioid crisis.
At least 10 state attorneys general and the plaintiffs’ attorneys gathered in Cleveland, where David Sackler represented the Sackler family, according to two people familiar with the meeting. David Sackler, who was a board member of the company, has recently been the de facto family spokesperson.
The lawsuits that Purdue and the Sacklers are seeking to settle allege that their company’s sales practices were deceptive and at least partly responsible for the opioid crisis, which claimed more than 400,000 lives from 1999 to 2017, according to the Centers for Disease Control and Prevention. Some of the lawsuits also allege that after 2007 the Sackler family drained the company of money to enrich themselves.
“The Sackler family built a multibillion-dollar drug empire based on addiction,” New Jersey Attorney General Gurbir Grewal said in May when his state joined others in suing the Sackler family and their company. Massachusetts Attorney General Maura Healey was the first to name family members in her suit in January.
Purdue Pharma, which makes the opioid painkiller OxyContin, and the Sackler family have denied the allegations laid out in the lawsuits.
In a statement to NBC News, the company said: "While Purdue Pharma is prepared to defend itself vigorously in the opioid litigation, the company has made clear that it sees little good coming from years of wasteful litigation and appeals.""
