Purdue Pharma files for bankruptcy as part of agreement to settle opioid crisis lawsuits

Maker of oxycontin reaches $10 billion settlement

DETROIT – Purdue Pharma, the maker of oxycontin, filed for bankruptcy as part of a plan to settle litigation with dozens of states and other plaintiffs who blame the company for fueling the opioid crisis.

Many people are wondering how this move will affect the planned settlement and legal action moving forward.

Experts felt this move coming. Now, the question is whether states such as Michigan will ever get the money, which was supposed to be used to help victims and fight the war on opioids.

Purdue Pharma made billions of dollars selling oxycontin. The bankruptcy filing comes just days after a tentative deal was struck with several states in which the company agreed to shell  out roughly $10 billion.

The money collected from a settlement would be used for everything from raising awareness about the opioid crisis to helping with treatment, officials said.

You can watch Hank Winchester's full story in the video posted above.


About the Authors

Hank Winchester is Local 4’s Consumer Investigative Reporter and the head of WDIV’s “Help Me Hank” Consumer Unit. Hank works to solve consumer complaints, reveal important recalls and track down thieves who have ripped off people in our community.

Derick is the Lead Digital Editor for ClickOnDetroit and has been with Local 4 News since April 2013. Derick specializes in breaking news, crime and local sports.

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