OxyContin maker Purdue Pharma files for bankruptcy over opioid settlement

Posted: Updated:

The company that made billions of dollars selling Oxycontin has filed for bankruptcy. 

Purdue Pharma made the filing Sunday night in White Plains.

The filing comes days after it reached a tentative settlement with state and local governments who sued it over the opioid crisis.

That settlement could be worth up to $12 billion.

The bankruptcy filing will not end Purdue Pharma's legal battles.

Numerous states, including New York, have not agreed to the settlement proposal.

Some will object to the settlement in bankruptcy court and continue litigation against the Sackler family, who own the company. 

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