Sources say that Purdue will pay up to US$12 billion over time.
Arizona Attorney General Mark Brnovich said the agreement included more money from the Sackler family, which had become a sticking point during the recent talks.
Story continues below “Talks are progressing rapidly, but this is the quickest and surest way to get immediate relief for Arizona and for the communities that have been harmed by the opioid crisis and the actions of the Sackler family,” Brnovich told The Associated Press.
READ MORE: Purdue Pharma in discussion to offer up to $12B to settle opioid claims: sourcesSources with direct knowledge of the talks say that Stamford, Connecticut-based Purdue will pay up to US$12 billion over time and that the Sackler family will give up control of the company. The sources spoke on condition of anonymity because they were not authorized to speak publicly.
Even with Wednesday’s development, roughly half the states had not signed on and several state attorneys general vowed to continue their legal battles against the company and the Sacklers. Roughly 20 states have sued the Sacklers in state court.New York, Massachusetts and Connecticut were among the states saying they were not part of the agreement.
WATCH: Big pharma paying big bucks to doctors, hospitals“Our position remains firm and unchanged and nothing for us has changed today,” Connecticut Attorney General William Tong said in a statement. “The scope and scale of the pain, death and destruction that Purdue and the Sacklers have caused far exceeds anything that has been offered thus far. Connecticut’s focus is on the victims and their families, and holding Purdue and the Sacklers accountable for the crisis they have caused.”
He said the state would continue to pursue Purdue if it files for bankruptcy under the settlement agreement, as expected.New York Attorney General Letitia James accused the Sacklers of “attempting to evade responsibility and lowball the millions of victims of the opioid crisis.”
“A deal that doesn’t account for the depth of pain and destruction caused by Purdue and the Sacklers is an insult, plain and simple,” James said in a statement. “As attorney general, I will continue to seek justice for victims and fight to hold bad actors accountable, no matter how powerful they may be.”
WATCH: Toronto physician says Purdue Pharma lied about opioid safetyNews of the tentative agreement comes as the first trial federal date draws near in the hundreds of lawsuits aiming to hold Purdue and others in the drug industry accountable for a nationwide opioid crisis.
The lawsuits assert that Purdue aggressively sold OxyContin as a drug with a low risk of addiction despite knowing that wasn’t true.In court filings, Purdue has pointed out that its products were approved by federal regulators and prescribed by doctors.
In March, Purdue and members of the Sackler family reached a US$270 million settlement with Oklahoma to avoid a trial on the toll of opioids there.READ MORE: Oklahoma’s landmark opioid fine: What you need to know about Canada’s pending suitsA court filing made public in Massachusetts this year asserts that members of the Sackler family were paid more than US$4 billion by Purdue from 2007 to 2018. Much of the family’s fortune is believed to be held outside the U.S., which could complicate lawsuits against the family over opioids.
The Sacklers have given money to cultural institutions around the world, including the Smithsonian Institution, New York City’s Metropolitan Museum of Art and London’s Tate Modern. Read more: Globalnews.ca »
Bianca Andreescu eyes Beijing for return after winning U.S. Open - Sportsnet.caBianca Andreescu's coach says the tentative plan is for the Canadian tennis star to return to action at the Beijing Open later this month.
Benjamin Netanyahu says he will ‘apply Israeli sovereignty’ to part of occupied West BankIsrael’s PM, who is fighting for his political life in a closely-contested election, said if he wins he will annex all Jewish settlements in the Jordan Valley That should go over well. This is the kind of nonsense that breeds anti-Israel sentiment. cdnpoli CBCAdrianH I'm confused. How can it be sovereign territory and be occupied? Usually you occupy territory that isn't yours.
Brexit crisis deepens, court rules Johnson's parliament suspension unlawfulParliament passed a law to force him to seek an extension if no deal is in place, he kicked out more than 20 of his lawmakers for rebelling and his brother quit over Brexit
Opinion: Hong Kong’s turmoil could be a Canadian crisis in the makingIf the many Canadians living in Hong Kong need to return home, that could be a problem – but political parties would be wise to consider them, given their voting power GlobeDebate WELL I GUESS IF THE WHAT300,000++ CHINESE CANADIANS DECIDE TO LEAVE HK IT WOULD POSE A BIG PROBLEM FOR CANADA, THANKS 'CASH FOR ACCESS!!''SHADY DEALS!!''COMMUNIST CHINESE STATUE!!''NATIONAL SECURITY THREAT!!''UNETHICAL!!' LYING!!' TRUDEAU FOR HANDING OUT VISA TO THE CHINESE LIKE GlobeDebate High dose of Absurdium eh what
Blue Jays' unusual Rule 5 experiment will make Luciano theirs long-term - Sportsnet.caIf all goes well, Elvis Luciano will be activated from the injured list this week and shortly after become property of the BlueJays long-term. bnicholsonsmith explains how here. ⬇️ BlueJays bnicholsonsmith Any real MLB pitchers coming to jays?
New director of Canadian Centre for Architecture in Montreal aims to broaden audience reach, starting with documentariesGiovanna Borasi will move up to the role in January. She replaces Mirko Zardini, who has held the position for more than a decade