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Purdue Gets Chapter 11 Approval of Justice Department Opioid Settlement

Purdue Gets Chapter 11 Approval of Justice Department Opioid Settlement

A bankruptcy judge approved an $8.34 billion settlement between Purdue Pharma LP and the Justice Department that requires the drugmaker to plead guilt

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A bankruptcy judge approved an $8.34 billion settlement between Purdue Pharma LP and the Justice Department that requires the drugmaker to plead guilty to three felonies over its marketing and distribution of OxyContin and is structured to support state and local government programs addressing the opioid crisis.

Approval of the agreement Tuesday by Judge Robert Drain of the U.S. Bankruptcy Court in White Plains, N.Y., marks a milestone in Purdue’s chapter 11 case and advances the drugmaker’s goal to turn itself into a corporate…

This post first appeared on wsj.com

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