BC-US–Opioid Crisis-Purdue, 3rd Ld-Writethru

Nov 24, 2020 1:53PM (GMT 19:53)

Purdue Pharma says its guilty plea over its role in the opioid crisis is “an essential step to preserve billions of dollars” for the settlement it is pursuing in bankruptcy court. The Stamford, Connecticut-based maker of OxyContin also said in a statement Tuesday after a federal hearing in New Jersey that the plea will “advance our goal of providing financial resources and lifesaving medicines to address the opioid crisis.”

The plea is part of a settlement with the U.S. Justice Department that also resolves civil claims. Advocates are upset the guilty plea does not apply to individual executives or members of the family that owns Purdue.