No new settlement yet of opioid claims against Purdue Pharma

OxyContin maker Purdue Pharma and a group of states have not been able to hammer out a new settlement so far as another mediation deadline has passed

OxyContin maker Purdue Pharma and a group of states have not been able to agree on a multibillion-dollar settlement of lawsuits over the drug's role in the opioid crisis after more than a month of mediation.

A mediator could call for still more talks between the parties, Purdue lawyer Marshall Huebner said at a hearing Thursday, indicating there could be a call for further mediation.

At the hearing, conducted by video conference from his White Plains, New York, courtroom, U.S. Bankruptcy Judge Robert Drain extended until March 3 legal protections for the company and its owners that had been set to expire Thursday to allow more time for a deal.

“This case is too significant to too many people and governmental entities and other parties of interest to be making knee-jerk reactions in light of a process that is still unfolding,” Drain said.