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Purdue Judge Gives Sacklers Until Jan. 14 to Negotiate New Deal

  • Court-ordered mediation could revive bankruptcy-exit plan
  • States that won an appeal to talk with Purdue owners
Purdue Pharma OxyContin medication.

Purdue Pharma OxyContin medication.

Photographer: George Frey/Bloomberg

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The billionaire owners of Purdue Pharma have until Jan. 14 to make a deal with nine states and the District of Columbia to rewrite the drug-maker’s bankruptcy-exit plan after it was rejected by a higher court last month.

U.S. Bankruptcy Judge Robert D. Drain laid out general terms to guide a short mediation effort that could, if successful, allow the multibillion dollar reorganization to go forward.