Will Purdue Bankruptcy Filing Resolve 'Unrelenting Chaos' Of Opioid Litigation?
Filing stays litigation but state attorneys general will be battling company's settlement proposal in US bankruptcy court. Details emerge on Purdue finances, rebate expenditures and litigation costs.
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Purdue proposes continuing the development of nalmefene hydrochloride and other products under a new company that would provide the products at no or low cost.
Lead plaintiffs counsel have accepted Purdue's proposed settlement offer to resolve more than 2,000 opioid suits, but more than half of state attorneys general reject the proposal.
Company is paying nearly $200m for an Oklahoma State University endowment, $12.5m to abate effects of opioid crisis and $60m for litigation costs.