Officials in 27 states and territories said Wednesday they have reached a tentative settlement worth $10 billion to $12 billion with Purdue Pharma, the maker of the opioid OxyContin, for the company's part in the opioid crisis.
According to NBC News, which first reported the plans for the deal in August, the Sackler family would give up control of privately held Purdue. The company would then declare bankruptcy and be converted into a for-profit trust. The proceeds from the sale of drugs would go to the plaintiffs.
The plaintiffs in the case include 45 states and territories and more than 2,000 cities and counties. But, NBC reported Wednesday night, at least 16 other state attorneys general who are suing the drug company said they have not agreed to the tentative settlement.
Earlier Wednesday, officials from the Tennessee Attorney General's Office said that it was part of a bipartisan group which "agreed to a framework to resolve claims against Purdue Pharma and the Sackler family."
Several attorneys general said the deal was a better way to settle the case than risk Purdue filing for bankruptcy on its own. The Associated Press quoted Arizona Attorney General Mark Brnovich as saying the deal "was the quickest and surest way to get immediate relief for Arizona and for the communities that have been harmed by the opioid crisis and the actions of the Sackler family."
In March, Purdue and members of the Sackler family reached a $270 million settlement with Oklahoma over claims it was responsible for the state's opioid crisis.