WVPA Sharing

West Virginia still slated to receive 1% of Purdue Pharma settlement, but intensity fund increases

By Courtney Hessler, The Herald Dispatch

HUNTINGTON — Despite criticizing its distribution formula, West Virginia’s attorney general is happy with last-minute progress made ahead of a federal judge’s ruling that gave conditional approval to a $10 billion settlement plan submitted by lawsuit-riddled OxyContin maker Purdue Pharma.

The settlement was reached between individual victims and thousands of state and local governments and Purdue Pharma and its owners, the Sackler family. The Sacklers will give up ownership and contribute $4.5 billion in exchange for immunity from any future lawsuits over opioids, which includes dozens filed in West Virginia.

The current population-based plan calls for the state to receive just 1% of the settlement, about $100 million, as outlined in the Denver Plan.

West Virginia Attorney General Patrick Morrisey had been critical of the settlement in recent years, voting against it, but last week U.S. Bankruptcy Judge Robert Drain urged states that oppose the plan to try to work out differences with the settlement agreement before a ruling was issued…

To read more: https://www.herald-dispatch.com/news/w-va-still-slated-to-receive-1-of-purdue-pharma-settlement-but-intensity-fund-increases/article_e495f0af-65ca-58f9-952c-529c8577d6af.html

Comments are closed.

Subscribe to Our Newsletter