All US state attorneys general agree to $7.4 billion Purdue Pharma settlement

(Reuters) -The attorneys general of all 50 U.S. states, Washington, D.C. and four U.S. territories have agreed to a $7.4 billion settlement with bankrupt drugmaker Purdue Pharma, New Jersey Attorney General Matthew Platkin said on Monday.

Purdue’s payment is intended to resolve thousands of lawsuits alleging that its pain medication OxyContin caused a nationwide opioid addiction crisis.

Platkin said members of the Sackler family, who own Purdue, have confirmed their plan to proceed with the settlement.

(Reporting by Jonathan Stempel in New York; Editing by Chizu Nomiyama)