NEW YORK, Sept 16, 2019 (BSS/AFP) – Purdue Pharma is to file for bankruptcy
in a settlement agreement that it hopes will provide more than $10 billion to
address the opioid crisis, the company said in a statement on Sunday.
The pharmaceutical giant whose prescription painkiller OxyContin is blamed
for much of the US opioid addiction epidemic, is facing thousands of state
and federal lawsuits.
Purdue Chairman Steve Miller said the settlement will “provide billions of
dollars and critical resources to communities across the country trying to
cope with the opioid crisis.”