Purdue Pharma Agrees To $270 Million Opioid Settlement With Oklahoma

The first of more than 1,600 lawsuits pending against Purdue Pharma, the maker of the opioid OxyContin, has been settled.

The drugmaker has agreed to pay $270 million to fund addiction research and treatment in Oklahoma and pay legal fees.

Oklahoma Attorney General Mike Hunter filed suit two years ago alleging Purdue helped ignite the opioid crisis with aggressive marketing of the blockbuster drug OxyContin and deceptive claims that downplayed the dangers of addiction.

Hunter had sought $20 billion dollars in damages against Purdue and other pharmaceutical firms.

The settlement comes one day after the Oklahoma Supreme Court denied Purdue's appeal for a delay of the trial. It is expected to begin on May 28, with the remaining defendants, including Johnson & Johnson and Teva Pharmaceuticals.

A judge has said the trial can be televised.

"We see this agreement with Oklahoma as an extension of our commitment to help drive solutions to the opioid addiction crisis," said Purdue Pharma CEO Dr. Craig Landau, in statement. "We pledge Purdue's ongoing support to the National Center and the life-saving work it will do for generations to come."

Landau refers to a new National Center for Addiction Studies and Treatment to be housed a Oklahoma State University in Tulsa. It will be funded by $102.5 million from Purdue and $75 million from the Sackler family, which owns the drug company.