A U.S. bankruptcy judge on Thursday urged parties that will benefit from a propo...
- A U.S. bankruptcy judge on Thursday urged parties that will benefit from a proposed settlement with OxyContin maker Purdue Pharma LP to focus on addressing the opioid addiction crisis and avoid battling over the deal’s billions of dollars.
The deal aims to resolve more than 2,600 lawsuits by states, local governments and other plaintiffs against Purdue and its Sackler family owners. The lawsuits accuse them of fueling a public health crisis by aggressively marketing opioids while downplaying their overdose risks, contributing to some 400,000 deaths from 1999 to 2017, according to U.S. statistics.
He mentioned as examples the litigation settlements involving victims of Vietnam War herbicide Agent Orange, the Sept. 11, 2001 attacks and the BP Plc Gulf oil spill. “That will avoid the jockeying and disagreements. That’s a very creative idea. Clearly doable,” said Feinberg, adding that he has not been contacted regarding Purdue.
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