Purdue Pharma reaches tentative deal to settle Oxycontin lawsuits

A source close to the negotiations told ABC News that the pharmaceutical giant would pay up to $12 billion, the bulk of the settlement is expected to go toward treatment and rehabilitation.
1:16 | 09/12/19

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Transcript for Purdue Pharma reaches tentative deal to settle Oxycontin lawsuits
We turn next to a developing the opioid crisis in America and tonight, a source now telling us Purdue pharma, the maker of oxycontin, has reached a tentative deal to settle thousands of lawsuits, it could involve billions of dollars. And here's ABC's chief business correspondent Rebecca Jarvis. Reporter: Tonight, Purdue pharma, the maker of oxycontin, reaching a tentative deal with more than 20 states and 2,000 local governments to settle claims over the nation's deadly opioid epidemic. A source close to the negotiations tells ABC news the pharma giant will pay up to $12 billion, including $3 billion from the sackler family. The majority of the settlement is expected to go to treatment, rehab and anti-overdose measures. The deal stipulates Purdue pharma would declare bankruptcy, but the company will continue to sell okay sin contin. , So, let's get to Rebecca Jarvis tonight. And many states are coming out against this deal tonight. Reporter: That's right, David. The opioid crisis, according to the CDC, cost the U.S. $78 billion a year. And attorneys general in a number of states tonight, including New York, Connecticut, Pennsylvania and Massachusetts have come out against the deal, saying it doesn't go far enough and that Purdue pharma needs to admit wrongdoing, David. Rebecca Jarvis, I know you'll continue to follow it. Next, a guilty verdict for

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