Okhlahoma’s OxyContin Lawsuits To Be Settled For $270 Million

Okhlahoma’s OxyContin Lawsuits To Be Settled For $270 Million

Introduction

OxyContin maker Purdue Pharma and its owners, the Sackler family, agreed to pay $270 million to escape from a state court trial over the company's involvement in the opioid addiction which took more than 200,000 lives in the U.S. over the past two decades.

The amount negotiated was larger than the previous two settlements by Purdue Pharma for other states and would resolve a case brought by the state of Oklahoma. The deal was reached two months before the beginning of a television trial in Oklahoma, where charges based on Purdue's deceptive marketing tactics would be on display in the state, which was hit hard by the opioid crisis. As per the terms of the settlement, Purdue and the Sackler family vowed to pay $197.5 million for the expansion of an addiction treatment and research center at Oklahoma State University in Tulsa. The company is willing to provide $102.5 million in cash, $20 million worth of addiction treatment medicines, and an additional $75 million will be provided by Sacklers over the next five years starting in 2020. Purdue also agreed to pay $60 million for litigations costs and an additional $12.5 million to the state to fight the opioid addiction crisis. According to state officials, a foundation associated with the Oklahoma State University Center for Health Sciences Center for Wellness and Recovery will be established to receive funds. A trial against other defendants sued by Oklahoma will begin in late May.