A gamble by Connecticut, seven other states and the District of Columbia to oppose a $4.3 billion deal offered by the Sackler family over its central role in the opioid epidemic paid off Thursday with a settlement worth $6 billion.
The new settlement, which now goes before a bankruptcy judge in White Plains, N.Y., would end a long court battle by states and victims against the family that owned Stamford-based Purdue Pharma, the maker of Oxycontin.
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The mediator running negotiations between bankrupt drugmaker Purdue Pharma LP and the nine states that opposed its vacated Chapter 11 plan announced they have agreed to a new deal that will see contributions from the members of the Sackler family that own the debtor increase to at least $5.5 billion.