Purdue Pharma, the maker of Oxycontin, has settled with the Oklahoma attorney general for $270 million after it was accused of fueling the nation’s opioid epidemic, according to a person familiar with the matter.
The deal was reached roughly two months before the scheduled start date of a televised trial in Oklahoma, where charges that Purdue deceptively marketed OxyContin would be on full display in a state hit hard by the opioid crisis.
Purdue is still facing 1,600 lawsuits blaming it for promoting OxyContin while underplaying the drug’s addictive properties.
By cutting the deal, Purdue and the wealthy family who owns it, the Sacklers, pushed their day of reckoning to the fall when the first trial from the 1,600 lawsuits will kick off in a federal court in Ohio where the cases have been consolidated.
The company has been exploring bankruptcy and has vigorously denied the claims against it.
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Story by: Laura Strickler