Light Rain Fog/Mist 48°
Tag:

Purdue Pharma

Business
CT-Based Purdue Pharma Files New $7.4B Bankruptcy Plan: How Opioid Victims Could Benefit CT-Based Purdue Pharma Files New $7.4B Bankruptcy Plan: How Opioid Victims Could Benefit
Ct-based Purdue Pharma Files New $7.4B Bankruptcy Plan: How Opioid Victims Could Benefit Purdue Pharma has filed a new bankruptcy plan that will distribute more than $7.4 billion to compensate opioid epidemic victims and fund addiction treatment programs. The Stamford, Connecticut-based company submitted the plan to the US Bankruptcy Court for the Southern District of New York, Purdue said in a news release on Wednesday, Mar. 19. The reorganization increases the Sackler family's payout by $1 billion from a previous deal. The plan will dissolve Purdue and transfer its assets to a new public benefit company focused on opioid crisis abatement. The Sacklers, who have…

SHARE

by Chris Spiker
News
Stamford-Based Purdue Pharma To Pay $7.4B In Historic Opioid Settlement: How Much Will CT Get? Stamford-Based Purdue Pharma To Pay $7.4B In Historic Opioid Settlement: How Much Will CT Get?
Stamford-Based Purdue Pharma To Pay $7.4B In Historic Opioid Settlement: How Much Will CT Get? Purdue Pharma will pay more than $7 billion for the corporation's role in fueling the opioid epidemic that has killed hundreds of thousands of Americans. The Sackler family and Purdue Pharma reached a $7.4 billion settlement with attorneys general from 15 states on Thursday, Jan. 23. The Sacklers have owned the company headquartered in Stamford, Connecticut, for decades. The settlement includes $6.5 billion from the Sackler family, with $1.5 billion to be paid immediately, and nearly $900 million from Purdue Pharma. Funds will be distributed to states, local governments, and victims ov…

SHARE

by Chris Spiker
News
CT To Receive $95M From Purdue Settlement, Create Opioid Survivors Trust, AG Says CT To Receive $95M From Purdue Settlement, Create Opioid Survivors Trust, AG Says
CT To Receive $95M From Purdue Settlement, Create Opioid Survivors Trust, AG Says Connecticut has big plans for its share of the $6 billion Purdue Pharma settlement after being one of nine agencies to appeal a previous settlement with the Sackler family. As part of the multi-billion dollar settlement, Connecticut is set to receive approximately $95 million, which is approximately 40 percent more than the previously vacated settlement that was appealed by state officials. Earlier story - Purdue Pharma Reaches $6B Settlement With US States Over Thousands Of Opioid-Related Lawsuits Connecticut Attorney General William Tong said that the money the state will receive as part…

SHARE

by Zak Failla
News
Purdue Pharma Reaches $6B Settlement With US States Over Thousands Of Opioid-Related Lawsuits Purdue Pharma Reaches $6B Settlement With US States Over Thousands Of Opioid-Related Lawsuits
Purdue Pharma Reaches $6B Settlement With US States Over Thousands Of Opioid-Related Lawsuits OxyContin creators Purdue Pharma and the Sackler family have reached a $6 billion settlement over their roles in the ongoing opioid crisis plaguing the country. The announcement comes following an earlier deal made with Purdue, headquartered in Stamford, Connecticut, that was ultimately appealed by eight states and the District of Columbia until the Sacklers kicked in more cash to get the deal done. Earlier story - NY, Other States Reach $4.5B Settlement With Purdue Pharma Over Its Role In Opioid Epidemic The $6 billion will be paid out over the course of 18 years, with larger payments fro…

SHARE

by Zak Failla