Purdue Pharma will reportedly settle with Oklahoma over allegations that the drugmaker used illicit techniques to market its painkiller OxyContin, believed by many experts to be a catalyst for the opioid epidemic plaguing the U.S.
The update, slated to be announced Tuesday afternoon by Oklahoma Attorney General Mike Hunter, comes months before the start of a trial that will also examine whether other companies -- including Johnson & Johnson -- also engaged in illegal marketing tactics to push treatments with addictive properties.
Purdue will pay $270 million to resolve the claims, according to the Wall Street JournalOpens a New Window.. The Stamford, Connecticut-based company is still facing over 1,600 lawsuits related to its role in the opioid epidemic and is reportedly considering filing for bankruptcy to help settle the suits.
A Purdue spokesman did not immediately respond to FOX Business’ request for comment. A Hunter spokesman declined to comment.