Sacklers Near Deal to Increase Opioid Settlement in Purdue Bankruptcy

Sacklers Near Deal to Increase Opioid Settlement in Purdue Bankruptcy
Bottles of prescription painkiller OxyContin, 40mg pills, made by Purdue Pharma L.D. sit on a shelf at a local pharmacy, in Provo, Utah, on April 25, 2017. George Frey/Reuters
Reuters
Updated:

Members of the Sackler family who own Purdue Pharma LP. are nearing an agreement to boost their more than $4 billion offer to resolve sprawling opioid litigation after negotiating with states that had objected to terms of the OxyContin maker’s bankruptcy reorganization, according to a court filing.

Sackler family members and states objecting to terms of Purdue’s bankruptcy reorganization are “close to an agreement in principle” to contribute additional cash beyond the $4.325 billion they had pledged to settle opioid litigation, according to a mediator’s interim report filed on Monday.