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Purdue Pharma Bankruptcy Won't Affect Oklahoma Settlement


The Oklahoma Attorney General's office says Purdue Pharma's recent bankruptcy filing won't change its settlement with the state.

In March, Purdue Pharma agreed to pay Oklahoma $270 million to settle claims the company helped ignite the opioid crisis by deceptively marketing its blockbuster drug OxyContin. That agreement kept Purdue out of court in Oklahoma, but it didn’t stop other lawsuits.

Now, as part of the proposed settlement agreement for a federal case, the drug giant filed for chapter 11 bankruptcy.

Oklahoma Attorney General Mike Hunter said Purdue has already paid the state its $175 million dollar share. The Sackler family, which controls the company, still owes Oklahoma $75 million, under the terms of the settlement. The family is supposed to start paying the money on Jan. 1.