Purdue Pharma and its owners, the Sackler family, are offering to pay $10 billion to $12 billion to settle thousands of lawsuits claiming the company fueled the opioid epidemic, NBC News reported citing two people familiar with the discussions.
A settlement was discussed by Purdue Pharma's lawyers confidentially in Cleveland, Ohio, last week, according to the report.
Purdue Pharma and the Sacklers are looking to settle more than 2,000 claims that the company used deceptive marketing and sales practices to boost prescriptions of OxyContin. Plaintiffs argue the tactics contributed to the national opioid epidemic.
The Sackler family and Purdue Pharma have denied the allegations.
"While Purdue Pharma is prepared to defend itself vigorously in the opioid litigation, the company has made clear that it sees little good coming from years of wasteful litigation and appeals," a company spokesperson told NBC. "The people and communities affected by the opioid crisis need help now. Purdue believes a constructive global resolution is the best path forward, and the company is actively working with the state attorneys general and other plaintiffs to achieve this outcome."
Purdue Pharma didn't confirm to NBC the meeting or the settlement amount.