OxyContin maker Purdue Pharma’s plan to reorganize into a new entity that helps combat the U.S. opioid epidemic got a big boost as 15 states that had previously opposed the new business model now support it.
The agreement from multiple state attorneys general, including those who had most aggressively opposed Purdue’s original settlement proposal, was disclosed late Wednesday night in a filing in U.S. Bankruptcy Court in White Plains, N.Y. It followed weeks of intense mediations that resulted in changes to Purdue’s original exit plan.
The new settlement terms call for Purdue to make tens of millions of internal documents public, a step several attorneys general, including those for Massachusetts and New York, had demanded as a way to hold the company accountable.
Attorneys general for both states were among those who agreed to the new plan, joining about half the states that had previously approved it.
In a statement Thursday, New York Attorney General Letitia James said the deal is not perfect but will help deal with the crisis. “We’ll be able to more quickly invest these funds in prevention, education, and treatment programs, and put an end to the delays and legal maneuvering that could possibly continue for years and across multiple continents,” she said. – READ MORE
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