Purdue Opioid Deal May Be Worth Less Than Drugmaker Promised
- Only $4.4 billion of $10 billion settlement is guaranteed cash
- While 24 states support deal, many say Sacklers must pay more
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Purdue Pharma LP’s deal to escape thousands of lawsuits over its role in the U.S. opioid crisis may provide less than half the $10 billion that the closely held drugmaker projected in its Chapter 11 filing, said three people familiar with details of the proposal.
The settlement Purdue filed in bankruptcy court Sunday includes just $4.4 billion in guaranteed cash, said the people, who asked not to be identified discussing confidential negotiations. The rest is based on money that’s far from guaranteed -- optimistic assumptions of insurance payments and future sales of its highly addictive OxyContin painkiller over seven years, they said.