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Purdue Pharma is involved in talks to settle thousands of federal and state lawsuits that accuse it of fueling the nation' s opioid epidemic, the company confirmed to CNN one day after another pharmaceutical giant was ordered to pay more than $500 million for its role in a single state' s drug crisis. Purdue Pharma, which makes OxyContin, is offering between $10 billion and $12 billion dollars to settle, NBC News reported Tuesday, citing two people familiar with the mediation The Sackler family would give up its ownership of Purdue Pharma and pay at least $3 billion of its own money under terms of the settlement proposal, according to The New York Times, The Washington Post and NBC News, which first reported the settlement talks. Purdue Pharma, which did not confirm a specific monetary amount to CNN, said that while it would " defend itself vigorously," it sees " little good coming from years of wasteful litigation and appeals." The company is working on a solution with state attorneys general and other plaintiffs, it said.
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