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I am a business economist with interests in international trade worldwide through politics, money, and banking. The author of RG Richardson City Guides has over 300 guides, including restaurants and finance.

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Purdue Pharma files new bankruptcy plan for $7.4 billion opioid settlement | Reuters

Purdue Pharma files new bankruptcy plan for $7.4 billion opioid settlement | Reuters
  • Sacklers to contribute $6.5-$7 billion
  • Widespread creditor support expected
  • New plan fleshes out details about how money will be allocated
NEW YORK, March 19 (Reuters) - Bankrupt drugmaker Purdue Pharma filed a new bankruptcy plan on Tuesday, a major step towards finalizing a proposed opioid settlement of at least $7.4 billion after a setback in the U.S. Supreme Court last year.
The payments are aimed at resolving thousands of lawsuits alleging that the company's pain medication OxyContin caused a widespread opioid addiction crisis in the United States. The headline figure had been previously flagged by Purdue and its owners, members of the wealthy Sackler family.


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