Purdue Pharma reaches tentative deal in federal lawsuit

CHRISTIE: NEW TONIGHT — PURDUE PHARMA – THE MAKER OF OXYCONTIN HAS ANNOUNCED ITS REACHED A TENTATIVE DEAL IN A FEDERAL LAWSUIT– INVOLVING NEARLY 2 DOZEN STATES AND 2-THOUSAND CITIES. ROD: THE MULTI-BILLION DOLLAR PAYOUT STEMS FROM THE COMPANY’S ROLE IN THE ONGOING OPIOID CRISIS. ABC’S MAGGIE RULLI HAS THE STORY. MAGGIE: A GROUNDBREAKING SETTLEMENT IN THE OPIOD CRISIS THE WASHINGTON POST WAS FIRST TO REPORT THAT PURDUE PHARMA – THE MANUFACTURER OF THE PAINKILLER OXYCONTIN – HAS REACHED A TENTATIVE SETTLEMENT DEAL WITH NEARLY HALF THE STATES AND SOME 2-THOUSAND LOCAL GOVERNMENTS. THE SETTLEMENT– SAID TO BE WORTH 10 TO 12 BILLION DOLLARS– INCLUDES A 3 BILLION DOLLAR PAYMENT FROM THE SACKLER FAMILY – WHO HAVE A CONTROLLING INTEREST IN PURDUE PHARMA. UNDER THE PLAN, WHICH HAS BEEN UNDER DISCUSSION FOR MONTHS – THE SACKLERS WOULD GIVE UP CONTROL OF THE COMPANY, PURDUE WOULD FILE BANKRUPTCY AND BECOME A TRUST – CHARGED WITH COMBATING THE OPIOD EPIDEMIC “Do you believe Purdue’s marketing was overly aggressive?” “No” MAGGIE: IN CLIPS RELEASED BY THE INVESTIGATIVE NEWS GROUP PROPUBLICA – WE HEAR SWORN TESTIMONY DURING A LAWSUIT FILED BY THE STATE OF KENTUCKY IN 2015 WITH DR. RICHARD SACKLER “Do you know whether OxyContin is more powerful or less powerful than morphine?” “It depends what you mean by powerful. MAGGIE: MAGGIE: PREVIOUSLY – PURDUE PHARMA EXPLAINED IN A STATEMENT: WHILE PURDUE PHARMA IS PREPARED TO DEFEND ITSELF VIGOROUSLY IN THE OPIOID LITIGATION IT SEES LITTLE GOOD COMING FROM YEARS OF WASTEFUL LITIGATION AND APPEALS” THE DRUG-MAKER IS CURRENTLY FACING THOUSANDS OF LAWSUITS RELATED TO OPIOID DEATHS AND ADDICTIONS ARIZONA’S ATTORNEY GENERAL TELLS THE ASSOCIATED PRESS THAT THEdeal was the quickest way to get relief for communities devastated by the opioid epidemic. MAGGIE: THE ENORMOUS CONSOLIDATED FEDERAL TRIAL IS SCHEDULED TO BEGIN IN MID- OCTOBER WITH TWO TEST CASES, CUYAHOGA AND SUMMIT COUNTIES, AS THE FIRST PLAINTIFFS TO MAKE THEIR CASE AGAINST AN ARRAY OF DRUG COMPANIES IN COURT. MEANWHILE, MORE THAN 40 LAWSUITS AGAINST DRUG COMPANIES ARE WENDING THEIR WAY THROUGH STATE COURTS. A GROWING NUMBER OF STATES ALSO HAVE SUED THE SACKLER FAMILY PERSONALLY. MAGGIE RULLI ABC NEWS NEW YORK

Leave a Reply

(*) Required, Your email will not be published