. home.aspx

NEWS

home.aspx
   


OxyContin maker Purdue Pharma starts ad campaign for claims

February 25, 2020 / GEOFF MULVIHILL
SHARESHARESHARE

OxyContin maker Purdue Pharma launched an ad campaign Monday to tell people harmed by their powerful prescription opioid where they can file claims against the company. The $23.8 million campaign is part of Purdue's bankruptcy proceedings as it tries to resolve close to 3,000 lawsuits over its role in the opioid crisis. Notifying people who may have claims against a company is a standard part of a bankruptcy case. But Purdue’s efforts —worked out with input from a committee of creditors and other interested parties and approved by a bankruptcy judge in White Plains, New York — are unusually expansive. The Stamford, Connecticut-based company has proposed a settlement that could be worth more than $10 billion over time, including the value of drugs it is producing and a contribution of at least $3 billion in cash from members of the Sackler family that owns the company.