Topline Oxycontin-maker Purdue Pharma submitted its bankruptcy restructuring plan late on Monday night in which members of the Sackler family, its billionaire owners, have pledged $4.275 billion from their personal fortune to help resolve several lawsuits the drug maker faces for its role in fueling the opioid epidemic. Purdue’s opioid painkiller OxyContin has been blamed for fueling the opioid epidemic which has led … [+] to more than 450,000 deaths in the U.S. Los Angeles Times via Getty Images Key Facts In a filing submitted to a federal bankruptcy court in New York just minutes before the court-imposed deadline at midnight, the drugmaker outlined plans to get itself out of Chapter 11 bankruptcy which it had filed for in 2019. The new settlement plan put forth by the Sacklers is $1.3 billion higher than their original offer and if approved it will be used to reimburse states, local governments, Native American tribes and other plaintiffs wh… Click below to read the full story from Forbes
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Purdue Pharma Owners Offer $4.28 Billion To Settle Opioid Lawsuits As Part Of Drugmaker’s Restructuring Plan
