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Purdue Pharma in discussion on $10 billion-$12 billion offer to settle opioid lawsuits: sources

Purdue is among several drugmakers and distributors that have been sued for fueling an opioid addiction crisis in the United States, which claimed 400,000 lives from 1999 to 2017, according to the U.S. Centers for Disease Control and Prevention

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OxyContin maker Purdue Pharma and its owners, the Sackler family, are in discussion to settle more than 2,000 opioid lawsuits against the company for $10 billion to $12 billion, two people familiar with the matter reported recently.

Purdue is among several drugmakers and distributors that have been sued for fueling an opioid addiction crisis in the United States, which claimed 400,000 lives from 1999 to 2017, according to the US Centers for Disease Control and Prevention.

The lawsuits have accused the Stamford, Connecticut-based Purdue Pharma of aggressively marketing prescription opioids while misleading prescribers and consumers about risks from their prolonged use. Purdue and the Sacklers have denied the allegations.

Purdue said it was actively working with state attorneys general and other plaintiffs to reach a resolution, without specifying a settlement amount.

There is currently no agreement and the settlement discussions could collapse, the sources said.

Representatives for Purdue and the Sackler family held discussions with cities, counties and states on the contours of the potential multibillion-dollar settlement last week in Cleveland, said a person familiar wi