Purdue Pharma, the company that made billions selling the prescription painkiller OxyContin, filed for bankruptcy days after reaching a tentative settlement with many of the state and local governments suing it over the toll of opioids.
The transfers bolster allegations by New York and other states that the Sacklers worked to shield their wealth in recent years because of mounting worries about legal threats.
Purdue Pharma reached settlement on Wednesday with thousands of local governments and more than 20 states over crisis.
The first civil trial that could hold a drug company responsible for the US opioid epidemic began in Oklahoma, a landmark case that could impact thousands of others like it. Johnson & Johnson and two other drug companies named in the lawsuit.
It is the first settlement to come out of the recent coast-to-coast wave of nearly 2,000 lawsuits against Purdue Pharma over allegations that they helped create the nation's deadly opioid crisis with aggressive marketing of the powerful painkiller.
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