Transcript for Purdue Pharma offers to settle opioid lawsuits: Report
Thank you very much, Michael. A possible blockbuster deal in the works. A source telling ABC news Purdue pharma is offering a massive package to end the lawsuits against the company over its role in the opioid epidemic. Steve osunsami joins us from Atlanta with the details. Good morning, Steve. Reporter: Good morning to you, Michael. This is getting expensive for the drugmakers. If this deal goes through, it would cover treatments for addicted Americans. This morning, the drug manufacturer who according to the government makes one of the most common painkillers involved in prescription opioid deaths is offering a potential deal, Purdue pharma makers of oxycontin is willing to settle more than 2,000 lawsuits that the drugmaker is currently facing related to opioid addictions. A source tells ABC news Purdue offered a package that could be worth up to $10 billion to $12 billion. In a statement the company explains that while Purdue pharma is prepared to defend itself vigorously in the opioid litigation, it sees little good coming from years of wasteful litigation and appeals. "The New York Times" is reporting that as part of the proposed settlement, that members of the sackler family who own the drugmaker would give up their take in the company and pay $3 billion of their own money. Do you believe Purdue's marketing was overly aggressive? No. Reporter: This is all coming out after the release of this 2015 video testimony from former chairman and president Dr. Richard sackler. Do you know whether oxycontin is more powerful or less powerful a drug than morphine? Depends what you mean by powerful. If powerful means potency, absolutely. It is twice as potent as morphine. Reporter: The members of the sackler family who own the company made billions developing and selling oxycontin. Purdue pharma says it is working actively with top state officials and plaintiffs across multiple states to get a deal Tom. Again, more than 2,000 cases. All right, Steve, thanks very much.
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