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The deal, agreed to by Purdue Pharma, the Sackler family members who own the company and lawyers representing state and local governments and thousands of victims of the opioid crisis, replaces a ...
NEW YORK (Reuters) -Purdue Pharma and its Sackler family owners have reached a new $7.4 billion settlement to resolve thousands of lawsuits alleging that the pain medication OxyContin caused a ...
Purdue Pharma said on Friday it needs more time to build support for a new $7.4 billion settlement that could complete the company's years-long effort to resolve thousands of lawsuits over its ...
The Sacklers and Purdue Pharma boosted their settlement contribution to $7.4 billion after the U.S. Supreme Court overturned a prior settlement in June 2024. If approved, the new plan would end ...
Harrington v. Purdue Pharma L.P., 603 U.S. 204 (2024), is a United States Supreme Court case regarding Chapter 11 of the Bankruptcy Code. [1] The case addressed the 2022-2023 Purdue Pharma bankruptcy settlement and whether, under Chapter 11 of the Bankruptcy Code, a release extinguishing claims held by nondebtors against nondebtor third parties, without the claimants’ consent could move forward.
Purdue Pharma introduced 10mg prescriptions of OxyContin in 1996 and marketed it as a nonaddictive drug to treat daily pain. In 2000, the company introduced a 160mg tablet – now discontinued.
But the Purdue Pharma settlement would be one of only two so far that include direct payments to victims from a $750 million pool. Payouts are expected to range from about $3,500 to $48,000.
Curtis Wright IV (born in 1949) is an American former government official known for his role in the Food and Drug Administration's approval of OxyContin for Purdue Pharma in 1995, followed by his subsequent employment by the company, which led to portrayals in films and reports in nonfiction books, magazines, and news media outlets of his alleged role as one of the key figures in the current ...