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"This milestone settlement should be approved now -- not delayed, deferred, or risked,” the Stamford drug maker said in a statement.
“Preserving Purdue’s ability to continue selling opioids as a public benefit corporation is simply unacceptable," Connecticut Attorney General William Tong said.
Purdue Pharma said its request was not "out of a desire to benefit or protect" anyone, "including any member of the Sackler families."
The bankruptcy proceedings could take over a year, according to lawyers for the Stamford-based OxyContin maker.
The families of late Purdue Pharma owners Mortimer and Raymond Sackler said they have “deep compassion for the victims of the opioid crisis” and believe the settlement “is an historic step toward providing critical resources that address a tragic public health situation.”
Legal officials in 27 other states, as well as attorneys for over 2,000 cities and counties, have tentatively agreed to a plan with the Stamford-based maker of OxyContin.
A Purdue spokeswoman maintains that the firm "believes a settlement that benefits the American public now is a far better path than years of wasteful litigation and appeals."
The Stamford-based OxyContin maker is facing 2,000-plus lawsuits over its marketing of opioids.
Although the Stamford company recently settled a lawsuit filed against it by Oklahoma for $270 million, Connecticut will not be settling its suit.