Colleen McMahon of the U.S. District Court for the Southern District of New York overturned a sweeping settlement against Purdue Pharma over its role in the opioid crisis. Purdue’s Oxycontin (oxycodone) is among the most widely used opioids. In September, Judge Robert Drain of the U.S. Bankruptcy Court in White Plains, New York, authorized a…
Purdue Pharma boosts opioid lawsuits settlement offer to $4.28 billion
Purdue Pharma has proposed paying an additional approximately $500 million in cash to settle hundreds of thousands of opioid lawsuits. As part of a proposed bankruptcy settlement, the payments would be spaced out over the next decade. The Sackler family that owns the company has earlier agreed to pay an additional $4.2 billion to settle…
McKinsey to pay $573M in opioid settlement
The prestigious consulting firm McKinsey has struck a deal with 47 states over its role in the opioid crisis. Notably, the company had advised OxyContin manufacturer Purdue Pharma (Stamford, Conn.) on “turbocharging” opioid sales. The pharma company had worked with McKinsey for 15 years. The Justice Department concluded that McKinsey helped manage a Purdue Pharma…