Purdue Pharma Settles

The maker of Oxycontin has agreed to a deal in a giant lawsuit with the state of Oklahoma over Purdue’s alleged role in catalyzing the deadly opioid epidemic.

Two months before heading to trial, Purdue Pharma and the Sackler family who owns it have agreed to pay $270 million to settle charges.

• While that sum’s about 10x a recent Purdue settlement payment, it’s only a fraction of the legal liability that led Purdue to consider bankruptcy earlier this month.
• Bankruptcy is off the table for now, says Bloomberg.

Looking ahead:

1. The trial will go on. Oklahoma is still pursuing charges against other drug-makers like Johnson & Johnson and Teva. Mark your calendar for a May 28 start date.
2. The public remains (mostly) in the dark. No Purdue trial means no recount of claims that Purdue persuaded doctors to over-prescribe Oxycontin and downplay its addictive risks.
3. The crisis is still ongoing...but it’s taken on new forms. The focus now is on fentanyl, a synthetic opioid.