Purdue Pharma has reached its first settlement of an opioid-related lawsuit for $270 million, according to media reports.
The case, brought by Oklahoma’s attorney general, was seeking $20 billion in damages. It also named Johnson & Johnson and Teva.
Purdue has been named in more than 1,600 lawsuits nationwide that claim its marketing tactics contributed to the opioid epidemic.
This week, Oklahoma’s supreme court declined to delay the trial, which was set to begin on Thursday and be televised. The lawsuit accused Purdue and other drugmakers of deceptive marketing that downplayed the risks of addiction to opioids while overstating their benefits.
Purdue has reportedly considered filing for bankruptcy to ease its liabilities from lawsuits, according to Reuters.
This week, museums on both sides of the Atlantic cut ties with the Sackler family, which owns Purdue. Tufts University in Boston also launched a probe into connections among the Sacklers, Purdue, and the university, investigating whether Purdue and the Sacklers used donations to gain influence over the school.