a nbc report saying purdue pharma offering $10 billion to $12 billion to settle this ylan >> purdue andly to set tell lawsuits against them 2,000 cases have been consolidated in federal court in ohio accusing the company and the sacklers for starting and sustaining the crisis. nbc report that is purdue proposed filing for bankruptcy and restructuring for a trust to pay out between $7 billion to $8 billion including $4 billion of in-kind drugs to local governments including medications to rescue users from overdoses and sacklers to pay additional $3 billion to $4.5 billion. similar to the $250 billion tobacco settlement in 1998 purdue said it sees little coming from years of litigation and resolution is a best path forward. the family didn't provide a comment to nbc back over to you. >> thank you very much. >>> let's bring in cnbc's meg tirrell on the news line for more on this story meg, great to talk to you. what's your initial take on the news of purdue's apparently willingness to settle and the size of the estimated cost $10 billion to $12 billion and means for the overall industry m

in a statement purdue pharma said.ng from years of wasteful litigation and appeals. purdue says it believes a constructive global resolution is the best path forward, and claims the company is actively working with state authorities and other plaintiffs to achieve this outcome. i spoke to healthcare attorney harry nelson. he is the author of the united states of 0pioids: a prescription for liberating a nation in pain. i asked him if the deal purdue looks to be offering will actually go ahead. no, i would describe the offer today by purdue pharma and the sackler family is kind of a first shot over the bow at a global settlement. i don't expect that the final deal, if there is one reached, will look anything like this one. so what do you expect it to look like? purdue pharma tried to put out its best foot forward in a way that signalled that the sackler family will no longer have a role in the company, that the family will be putting money in. but i think the numbers arejust much, much lower than what the plaintiff attor

i asked him if this deal by purdue would go ahead.pharma and the sackler family is kind of a first shot over the bow at a global settlement. i don't expect that the final deal, if there is one reached, will look anything like this one. so what do you expected to look like? purdue pharma tried to put out its best foot forward in a way that signalled that the sackler family will no longer have a role in the company, that the family will be putting money in. but i think the numbers arejust much, much lower than what the plaintiff attorneys are looking for. frankly, the numbers i've heard cited as the family owned company could easily be 5—10 times what purdue actually said today. harry, even if it is much more money, what's the point, aside from holding the company responsible, will it actually help the people still in the grip of this crisis? you know, the cost of actually addressing the harm caused in the opioid crisis is roughly half a trillion. so it's very nice. another 10—12 billion would be literally a drop in the bucket. about 2%

profits from sale of the drugs would go to the cities, counties and states who have accused purdue of pushing the powerful painkillers despite knowing the risks. video of former chairman dr. richard sackler's deposition published today by pro publica >> the way the sales scheme was set up, if they sold more oxycontin, they made more money basically. >> yes, yes. the same as almost every other company in the industry. >> reporter: the sackedler family ranked by forbes as the 19th rich est in america didn't return our request for comment purdue tells nbc while it is prepared to defend itself, it sees little good coming from wasteful litigation. the people and communities affected by the opioid crisis need help now. >>> accord being to the cdc, opioids have claimed more than 400,000 lives from 1999 to 2017. and susan allen samuels whose son joe survived an addiction to oxycontin says purdue isn't doing enough >> and they, quite frankly, didn't give a damn 10 to $12 billion now, what is one life worth >> and kristen joins us now. so how likely is the settlement >> reporter: right now it's

. >>> welcome back to "power lunch" a major development, oxycontin maker purdue pharma and its owners are settling the products >> hi, the proposed 10 to $12 billion that purdue is offering would settle 2,000 cases by the own ter sackler family this was referred to first yesterday. it would be reached in a piecemealings that purdue would file for bankruptcy and restructure by would divert sales from oxycontin and other drugs to municipalities that agreed to the settlement they would donate $4 billion and finally the sackler family would pay at least $3 billion. the mention that a settlement is notable. until recently, it seems that the states prefer to go it alone. now this debate is how this helps other countries involved, from drug makers to pharmacies and distributors they said they would consider a settlement in the throughs of cases in ohio. guys, there has been an interesting new development in this case as well, where a deposition from richard sackler, who was the ceo from purdue pharma was unsealed and i believe we have that video we can show you courtesy of statin republic ch

purdue pharma and teva settled bere the trial began.se was just the first to go to trial of thousands pending across the country, seeking to hold the drug industry accountable oor thoid epidemic. attention now turns to a massive set of federal cases, consolidated in ohio in what is known as a multi-district litigation or mdl, brought byou nds of cities, counties and others. an attorney for j & j said theu oklahoma r should have no bearing on those cases. >> the cases that are consolidated in the mdl proceeding in cleveland, ohio, d are underferent law. they have different parties, different theories, and so we do believe that those are very different. >> reporter: yet stocks of companies involved in that litigation jumped last night on j & j's ruling, which was smaller than wall streetd. anticipa oklahoma's attorney general said that's the wrong take. >> the multiplier effect around the country is considerable.th e are 2,000 plaintiffs in the mdl and 50 other states. for thest ana to be characterizing this as a win, they need to go back

no word on how much the purdue owners, the sackler family, would have to pay. the news comes two months before the first federal trial over the toll of opioids is scheduled to start in ohio. >>> a death in a v.a. hospital in west virginia is being investigated as a homicide. in april of 2018, 82-year-old vietnam veteran felix mcdermott was admitted to the louis a. johnson v.a. medical center in clarksburg with pneumonia. he was improving when suddenly three days later he was dead. according to a claim filed by his family, nobody at the hospital explained what happened to mcdermott, but an autopsy performed months later found mcdermott who had never been diagnosed with diabetes was injected with a deadly dose of insulin. lawyer tony odell says up to ten other patients met the same fate. >> they all seemed to have sudden high powe glycemic event that was unexpected and unexplained, and then they passed and died. >> the johnson v.a. medical center says it's cooperating fully with the federal investigation, which does not involve any current employees. >>> women wh

so you have to keep this offer from purdue pharma in that context.billion from the sale of oxycontin. >> so they're offering roughly a third of what they made on that one drug as their payment to make all of their legal liability go away? >> yes. and i, you know, i caution that this is a -- this is just the proposal that's on the table right now. >> laura strickler, investigative journalist at nbcnews.com. thank you for breaking this story for us. >> thank you. >> thanks. we'll be right back. we'll be right back. you should be mad at forced camaraderie. and you should be mad at tech that makes things worse. but you're not mad, because you have e*trade, who's tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. don't get mad. get e*trade's simplified technical analysis. thatthere you are, mom!here. that's you? that does kinda look like our family. what are you wearing? ancestry has over 400,000 yearbooks from all across the country. start searching for your friends and family, free, at

purdue ultimately had to pay $600 million. company that had made billions of dollars on oxy, it was barely a pothole on the road to the multi-billion dollar opioid catastrophe to ultimately kill more than 400,000 americans. purdue see skapg basically unscathed all those years ago with the help of lawyers including with the help of the president's lawyer, rudy giuliani. they continued unabated for another decade, but that didn't stop thousands of cities and counties and states from suing purdue pharma themselves, for among other things, fraudulently marketing oxycontin, misleading the public about the risks of abuse. now here in 2019 it's all coming to a head which is worth watching in tomorrow's news and over the next few days. there is a federal judge who's overseeing a combined docket of more than 2,000 of these lawsuits against purdue and other companies. these companies have insisted that they haven't done anything wrong, that if these cases go to trial, they're sure they'll win, they're happy to fight. in the wake of a bi

so you have to keep this offer from purdue pharma in that context.rmation is that purdue pharma made $35 billion from the sale of oxycontin. >> so they're offering less than a third of what they -- or roughly a third of what they made on that one drug as their payment to make all their legal liability go away? >> yes. the proposal that's on the table right now. >> laura strickler, investigative journalist at nbcnews.com. thank you for breaking this story for us. thanks for helping us understand it. >> absolutely. thank you. >> thanks. we'll be right back. we'll be right back. (woman) banjo! sorry, it won't happen again. come on, let's go home. after 10 years, we've covered a lot of miles. good thing i got a subaru. (avo) love is out there. find it in a subaru crosstrek. (avo) get 0% during the subaru a lot to love event. they give us excellent customer otservice, every time.e. our 18 year old was in an accident. usaa took care of her all i had to take care of was making sure that my daughter was ok. if i met another veteran, and they were with anothe

deal with a public health crisis of this magnitude >> on the heels of the johnson & johnson ruling purdue pharma is offering up to $12 billion to settle thousands of lawsuits but the clock is ticking >> shocking new dash cam video a stolen police suv slamming into another cruiser new surveillance shows the struggle just before the high-speed chase and the tragic end two 6-year-old girls killed. what police just revealed about the suspect. >>> to the varsity blues college admission scandal. as lori loughlin and her designer husband get a major warning from the judge about their defense. >>> and what do harry styles, magic mushrooms and paul mccartney's "ram" have in common find out as we kick off your wednesday. "early today" starts right now good morning i'm frances rivera >> and i'm phillip mena. president trump has approved a disaster declaration for puerto rico tropical storm dorian could bring flooding and near hurricane-force winds to the island today meanwhile, some areas there have not fully recovered from hurricane maria. >> we are much more ready than we were. but there is one th

richard sackler, the former president of purdue pharma. why he says it's wrong to blame their marketing. >>> the historic church in the northeast engulfed in flames today, the daycare inside. >>> the man accused of putting a camera in an airplane bathroom, recording passengers. well, what's happened now tonight. >>> the terrifying rockfall at a national park. the rocks giving way. the people hit underneath. >>> and america strong tonight. we hope the line starts forming for ice cream as soon as you see this. >>> good evening and it's great to have you with us here on a tuesday night. and we begin tonight with the state of emergency already in puerto rico. tropical storm dorian gaining strength at this hour and thorida watching this path veryt wis t50 miles per hour, nearing hurricane strength as it makes landfall in puerto rico tomorrow. dorian hitting martinique today. streets there flooded by heavy rains already. hurricane hunters flying into the storm for a closer look tonight. dorian posing the first serious tropical threat to puerto r

purdue had to pay $600 million.ly even a pothole on the road to the multi-billion dollar national opioid catastrophe that would roll on se seamlessly that day in court to ultimately kill 400,000 americans. that cleared the way for the opioid epidemic to continue unabated for another decade plus. but this didn't stop thousands of cities and counties and states from suing purdue pharma themselves for fraudulently marketing oxycontin and misleading the public about the risks of abuse. now here in 2019 it's all coming to a head. there is this federal judge in ohio who is currently overseeing a combined docket of more than 2,000 of these lawsuits against purdue and other companies arguing they should be held liable for fueling the opioid disaster. these companies have insisted they haven't done anything wrong, they're sure they'll win, they're innocent, happy to fight. in the wake of a big verdict against one manufacturer this week, nbc news broke the news that purdue fapharma is trying figure out a way to open its check

purdue pharma will go away. it will declare bankruptcy.es through, it will declare bankruptcy and will become this public benefit trust, which is a unique -- the company would be using the tool of bankruptcy to create this new company that would then be run by independent people. the sackler family would no longer have any connection to the company. >> laura, thank you. laura strickler is an nbc news investigative journalist. we of course are going to stay on top of the story. right now in fact. because this all comes after a huge ruling in oklahoma where a judge ordered johnson & johnson to pay $572 million for its role in the opioid epidemic. the state argued that the consumer giant johnson & johnson and their subsidiaries created misleading marketing campaigns that overstated the effectiveness of opioid medications and downplayed their addictive nature. here's some of what the oklahoma attorney general michael hunter had to say about the ruling. >> what we are expecting them to do and what the judge ordered them to do is to begin to tak

purdue pharma has for months been in talks about reaching a global settlement. perdue and the family behind it, the sacklers, increasing international pressure. with protests and 2000 lawsuits, the drugmaker and others are facing it. the u.s. media reports purdue is close to finalizing a deal to settle thousands of lawsuits in one swoop. "the new york times" reports that purdue pharma will file for bankruptcy and contribute $10 billion.o $12 the private company will become a public trust, where drug sales would go to plaintiffs. thagreement has not been finalized or publicly acknowledged. purdue pharma did release a statement after the rumors emerged. >> the company has made clear its is little coming from years of wasteful litigation and appeals. the people and communities affected by the opiod crisis need help now. such a settlement is far from a done deal. companies such as johnson and johnson have traditionally preferred to go to trial. it would follow in the footsteps of a $206 billion agreement reached by tobacco companies over hiding the risk of smoking.

purdue pharma is facing cases accused of fueling the opioid epidemic. this morning, a possible ,000 lre is morning, a sonews purdue phao give up at least $10 billion to settle those cases. in a statement the company says, while purdue pharma is prepared defend itself investigavigorou the opioid litigation, it sees little good coming from years of wasteful litigation and appeals. >> do you believe purdue's marketing was overly aggressive? >> no. >> reporter: for the first time we're hearing from purdue pharma's former chairman and president dr. richard sackler. members of his family own the company which made billions developing and selling oxycontin. >> do you know whether oxycontin is more powerful or less powerful a drug than morphine? >> depends what you mean by powerful. if powerful means potency, absolutely. it is twice as potent as morphine. >> the clips from 2015 were released by the news group propublica. under oath sackler said it was wrong to blame the opioid crisis on their marketing but the company ended up settling paying $20 million. >> th

i didn't mention the family that was really the founding family of purdue. a new york institution they faced a huge backlash over the last year or so about their role in all of this. they of course have denied any role do you think that this is the -- that this reported settlement, and we don't know if it's going to happen, is in some way an attempt to buy corporate america's way out of responsibility >> well, i'm not sure if there's an ethical or moral underpinning to what they're trying to do i think, as a practical business matter, as a family, and as a company that's probably well advised by bankruptcy lawyers and legal counsel, it does seem to be a wise thing to try to do. it's sort of like a little bit of a game of chicken that they're playing, brian when they lost the lawsuit, when they settled the lawsuit earlier this year in oklahoma for around $275 million, a lot of people who are families of the victims of opioid abuse were very upset that they settled instead of actually going through a trial yesterday we know that johnson & johnson lost their tr

purtuesday pharma -- purdue pharma, widely blamed for sparking the opioid crisis. the family getting rich off of it. it introduced octobxycontin. >> settlement talks say purdue is offering $10 billion to $12 billion total. purdue pharma confirms it is trying to settle 2,000 cities, counties, and tribal lands that are suing the company. a trial set for october. this follows a landmark decision in oklahoma where a judge ordered pharmaceutical giant johnson & johnson to pay $572 million for its role in the state's opioid crisis. >>> the attorney general, bill barr, is planning a holiday party for 200 people in december. guess where he booked it -- the president, the president's washington, d.c., hotel, fueling more questions about his independence. the "washington post" obtained the party contract barr signed. he will pay for the gathering himself. eventually writing a check to the hotel for more than $30,000 for his party. according to the justice department, the attorney general chose the president's hotel because other hotels were booked. a doj official says ethics

purdue pharma confirms it is trying to settle. 2,000 cities, counties, and tribal lands are suing purdue pharma, a trial set to begin in october. this follows a landmark decision in oklahoma. a judge ordered pharmaceuticals giant johnson & johnson to pay $572 million for its role in oklahoma's opioid crisis. >>> today's the deadline for democrats to qualify for the next debate two weeks from tomorrow. ten candidates have qualified. the campaigns are hoping it to keep it to ten. at least one poll is coming out this morning if businessman tom steyer tops 2% in one more dnc-approved poll, he will be the 11th candidate to meet the criteria. the debate will then be split into two nights. and russia is causing some -- and that is cause something grumbling. one aide saying it's a disservice to primary voters saying they want to see biden, warren, sanders, harris, buttigieg, they've been the consistent top tier for months now. >>> former vice president joe biden sat down tuesday with several black journalists, repeating his argument he is the most electable candidates even as other candidates dr

. >> and purdue pharma these are big numbers.he big number is settlement for 10 to $12 billion. >> that's only 20 times what johnson & johnson just settled with the state of oklahoma for this would be all the states and municipalities and they played a bigger role. they invented the stuff. >> but if you got 10 to $12 billion how much did they sell $35 billion worth of oxycontin basically. >> i looked at that and i thought wow -- >> that's a lot of oxycontin. >> but i looked at the deal. >> a lot of it made it's way to the family they're worth about $3.5 billion so a lot of them -- >> left the company a long time ago. >> so where does -- i think once, if the company does go into bankruptcy -- >> i don't know. >> it's a lot of money the confidendeal was part of a discussion by purdue's lawyers last thursday. they allege the company's sales practices were deceptive and partly responsible for the crisis much more coming up. >> what's interesting is this settlement was talked about before you heard the oklahoma judge ruling against jo

dangers and over selling the benefits of opioids but now we've got word that the sackler family of purdue farmer many consider the tony montana of the opioid epidemic bringing us the joys of oxy contin back in 1996 they they may be next on the chopping block the new york times is now reporting that as part of a possible settlement to resolve thousands of federal and state lawsuits the sackler family would give up ownership of purdue pharma the company blamed for much of the opiate epidemic and paid 3000000000 of their own money but for that but the punishment for the socceroos wouldn't end there the times goes on report that in addition to that there are $3000000000.00 cash payout the sacrilege would sell another drug company they own monday pharma and contribute an additional $1500000000.00 from the proceeds this could essentially force the sackler family out of the opioid business to the tune of $4500000000.00 just on their own expenses but are just bankruptcies and fines enough does that bring justice to the millions upon millions of lives destroyed by the opioid epidemic. let's point

>> lennie, how should we think about the potential exposure from purdue? what does the 10 to $12 billion offer mean to you in terms of possible financial outcomes? >> first off, just think about how complicated this is going to be for them to arrange they have to satisfy the 2,000 plaintiffs of the big federal suit in ohio and then there are 40 some-odd states across the united states that alsowant a cut of this money. and purdue has said for months and months that all the liabilities it faces could put it into bankruptcy they have made no secret of that whatsoever so their exposure is very, very high and what they need is a global settlement of all the claims, which is like herding cats for others, they're much bigger but they face the same issue >> right and so oklahoma is first to settle not only would it file for bankruptcy, it would turn its into a public beneficiary trust. so, again, is that going to be enough -- the sums that you had previously mentioned, some people are speculating here, could be hundreds of billions of dollars, right if there is t

purdue pharma settled out of court in the oklahoma case for 270 million.d though 572 million sounds like a lot of money for johnson & johnson it's a drop in the bucket reporting $5 billion in profit last quarter so times that by four, 20 billion a year, yada, yada, yada. we've had to do a lot of math. laura strict ler is an investigative producer that broke the story earlier this afternoon. laura, thanks very much. so purdue pharma, it's obviously not an accident they floated this settlement today. where do they come up with the number? >> they basically have been meeting with the states, cities and counties at the request of judge -- this federal judge in cleveland and he said to them, come on, you know, let's try to find some kind of global settlement so everybody can move on and avoid litigation. they came up to 10 billion to $12 billion and would file for chapter 11 bankruptcy but would still continue to function as the business and the sacklers would no longer be involved. the company would become a for profit trust that would continue to sell drugs,

investigator jim geldof was supported by top officials in his investigation into purdue purdue look pretty early on the drug was being abused by crushing it and then either injecting or snorting nuance econo then actually the sale of that drug became its own economy so if you had an 80 milligrams bill that was worth a $100.00 to $120.00 on the street. it was of phenomenal we hadn't seen before the diversion was so massive do it where you're really going to attack it has with the distributors in the manufacturers and that's why finally d.e.a.'s initiated struggler initiative but whatever we did it was never good enough and we chris couldn't achieve counts and move on the case they were always want somebody else interviewed volume was an awful even though with the volume was off the charts they want us to be specific as to what order was suspicious this was the one i really i couldn't believe i said to the chief counsel terry this ship you know 5000000 pills to this particular pharmacy and you want me to tell you which one is this is the suspicious one i mean they're all suspicious and. they

>> no. >> reporter: purdue settled that case months later for $24 million.years before, the company and three executives had already pleaded guilty in federal court to misleading and defrauding doctors and consumers about oxycontin and agreed to pay more than a $600 million fine. >> for these misrepresentations and crimes, purdue and its executives have been brought to justice. >> reporter: still, the accusations and legal challenges persist. >> before it was a heroin crisis, before it was a fentanyl crisis, it was a prescription drug crisis in this state which was oxycontin. >> reporter: purdue pharma tells cnn while it will defend itself vigorously, they are acting on a solution with plaintiffs because they see little good coming from years of pastaful litigation and appeals. >> i don't think they will be concerned about appeals and litigation, i think they're concerned about their liability which is going to be massive if they don't settle. >> reporter: attorneys are expected to update the court on settlement talks at the end of the week. in terms of that

we know for years now sackler and purdue pharma have been fighting off allegations about fueling thedemic in this country with the introduction of oxycontin in 1996. propublica has retained some video from dr. richard back in 2015. listen to this. >> do you know how much the sackler family has made off the sale of oxycontin? >> i don't know. >> but fair to say it's over a billion dollars. >> it would be fair to say that, yes. >> do you know if it's over $10 billion? >> i don't think so. >> do you know if it's over $5 billion? >> i don't know. >> that suit was settled. as for the discussions about a future settlement concerning the federal case this fall, purdue has put out this statement saying while purdue pharma is prepared to defend itself vigorously in the opioid litigation -- these settlement talks are something that would have been going on weeks or months now. but this news coming on the heels of this major oklahoma ruling where a judge sided with the state and said johnson & johnson was at fault for fueling the opioid epidemic there and deciding the company would need to pay

we were discussing johnson & johnson news this time we have news on purdue pharma they're weighing a10 and $12 billion to settle lawsuits according to nbc news accused of fuelling the opioid epidemic by marketing prescription drugs the settlement comes after johnson & johnson was ordered to pay a fine after it's own opioid trial. kristen has the story. >> tonight, purdue pharma is ready to make a deal offering between 10 and $12 billion to settle more than 2,000 lawsuits linked to the opioid crisis. >> it's very significant never before have we ever seen a member of a private industry offer so much money to try to deal with a public health crisis of this magnitude. >> people familiar with the deal telling nbc news purdue would file for chapter 11 bankruptcy and restructure the company into a for profit trust run independently. profits would go to the cities, counts and states that have accused purdue of pushing the powerful painkillers despite knowing the risks. the video of the deposition published today by pro publica. >> if they sold more oxycontin they made more money. >> yes sam

nbc are now reporting that one of those companies, one of those companies, purdue pharma, purdue pharmattle up more than 2000 opioid claims, let us return to my colleague. i suppose looking at that and just the number of cases, 2000 expected to be in the pipeline, where do you think this will go next? there are these 2000 cases in the courts, more than a0 other states are among them, taking these pharmaceutical companies to court, they now see they can get a conviction on the grounds of public nuisance actually in this case in oklahoma. if purdue pharmaceuticals and manages to settle all of these cases for their role in this devastating crisis, which as you rightly said has claimed hundreds of thousands of lives, i think they will look at it is a bit of a success to pay $12 billion, when as i said, in just the oklahoma case alone, they were looking for $17 billion in damages, so for the cost to the state in terms of looking after people who have got opioid addiction, the death of people in oklahoma, the emergency services, the projects to rehabilitate people, and when you look at that a

the deal was reportedly discussed last week by purdue's lawyers and includes a plan for purdue to declare chapter 11 bankruptcy before restructuring into a for-profit public benefit trust that would allegedly serve the many plaintiffs suing the company. the sackler family would relinquish ownership of purdue under the deal. the news came out the same day as a landmark ruling in oklahoma, which found johnson & johnson helped fuel the state's opioid crisis. the company was ordered to pay over half a billion dollars. purdue pharma was also sued by oklahoma, but settled before any trial took place. senator 2020 hopeful bernie sanders has released a plan to protect independent the -- end thein consolidation and corporate control of media outlets. his plan includes ending federal approval of huge media mergers, giving employees an opportunity to have ownership in news outlets, increasing funding for local and independent news, and strengthening anti-trust regulations to stop tech giants like facebook and google from "cannibalizing, bilk, and defund news organizations." sanders notes that trump'

. >>> we have a news alert on purdue pharma. let's get over to dom chui. >> they're the makers of oxycontin and alleged to have caused and prolonged a lot of the crisis in many parts of the country. right now nbc news has learned kritding sources familiar that purdue pharma and owners the sackler family offering to settle more than 2,000 lawsuits against the company for a range of between $10 billion to $12 billion. it was, again, at least ten states attorneys generals and plaintiffs' attorneys gathered in ohio where according to the sources familiar the family talked about a possibility of this we have reached out to the sackler family for comments and purdue nbc news got a statement from purdue pharma saying while they're prepared to defend itself vigorously, the company sees little good coming from years of wasteful litigation an appeals. the people and communities affected by the crisis need help now. purdue believes a constructive global resolution. a big deal this is in light of johnson & johnson now on the hook for $572 m

amy: i want to ask about purdue pharma's role in the opioid crisis. again, they settled earlier and did not go to trial in oklahoma. earlier today, the investigative news organization propublica published a previously unseen video of dr. richard sackler giving a deposition in a 2015 lawsuit in kentucky. the company waged a three-year legal battle to keep this video secr. , afteallgere today you ve come learn aa wiess, do u believ purd's conic inarketingnd promong oxontin inentuckyaused any the preription ug adctionroblems wlaguing the coonwealth >> ion'believe . >>itting yr today ter all you co to learto win ias a tness, d belieroduce h led excessi or unnessary amount of opids beelocated througut the cmonwealtof keucky? >> i d't lieve so >> dbelieve at any o purd's nduct haled to a incrse in pele being adcted in the commonwealth of kentucky? >> no. sacklert is dr. richard the makerpharma, of oxycontin, part of a deposition he gave. they did not want this video made public. julia lurie, as you listen to this for the first time, can you talk about the s

vonnie: what happens to purdue if it does declare bankruptcy?thia: this is a case where it is put in a sort of public trust, in essence, and the money in the selloff in the wind down all goes towards this settlement , and that is how the company is sort of wound down. perhaps the remaining entity -- i don't actually know how it would operate. i think some of those details will be worked out. that areell drugs used. we have lost the fact that opioids are some of the best painkillers just from a strict painkiller perspective, used in hospitals and some procedures in a controlled fashion. there is still a market for opioids, but clearly not to the size and scope of what was happening when it was growing astronomically, so on and so forth. vonnie: we will continue to keep our eye closely on this story. that is cynthia koons for us. this is bloomberg. ♪ ♪ vonnie: take a look at where european markets are trading as we had to the close. we are lower for all but the ftse 100, which is picking up steam now. the ftse 100 up on most half of 1%. the cac 40

two sources saying under the settlement, the sackler family would give up ownership of purdue pharmapay an additional $3 billion of their own money. the sacklers did not respond to a request for comment. >> and following oklahoma's ruling that johnson & johnson intentionally downplayed the potential of opioids, several democratic senators have spoken out here in the u.s. >> i'm glad that the immunity that the drug companies have enjoyed is being shattered. that they're going to be held accountable. that there will be justice at the end of the day that's going to save lives. >> that ruling is just the beginning. i don't think that people understood, nor did doctors, nor did patients just how dangerous this was. they were playing with people's lives. >> i hope it ends up like the tobacco lawsuits where our states get billions of dollars and we can reinvest that back into the communities for, you know, prevention. law enforcement has taken a hit on this. our schools are taking a hit on this. our economy's taking a hit on this, so, we need treatment. >> presidential hopeful john delaney

certainly purdue has tried to fend off these in the past.from richard sackler back in 2015. listen to this. >> do you know how much the sackler family has made off the sale of oxycontin? >> i don't know. >> but fair to say it's over a billion dollars? >> it would be fair to say that, yes. >> do you know if it's over $10 billion? >> i don't think so. >> do you know if it's over $5 billion? >> i don't know. >> all right. >> so that lawsuit was resolved through a settlement. as for the talks now surrounding the possibility of another settlement, this is what purdue is saying. they put out a statement saying whale purdue pharma is prepared to defend itself vigorously in the opioid litigation, the company has made clear it sees little good coming from years of wasteful litigation and appeals. the communities affected by the opioid crisis need help now. alisyn and john, obviously these talks about a possible settlement would have been going on for some time. but these details are breaking on the heels of this landmark decision in oklahoma where a

there are reports that purdue pharma are offering to settle more than 2000 other lawsuits. are they seeing the writing on the wall? jonathan: they are in a position hech like big tobacco before multistate settlement. they are gting an idea of what the outer limit of liability isa for these phutical companies, settling these cases sult actually in a profit. they can have a good stock reacon. that is what happened with b tobacco. when they reached this massive settlement, their stock actually went up. invests had a good idea of the four corners of this room. i think the pharmaceutical companies are looking at the calculus as to whether settling these cases will give them a bump. laura: purdue pharma says in itm stt they see little good coming from years of wasteful litigation. could it be that some good will come from people's suffering from the opioid crisis because they will get money? jonathan: hopefully it will. veout of of the concern i s that the primary responsibility in terms of abuse of these drugs really with the doctors. 80% of opioids being used in the world are b

crisis purdue pharma was facing massive financial liabilities and that siphoning off $4 billion wouldtion. we covered the massachusetts lawsuit on the show. what makes this suit unique is that it was filed directly to the supreme court which also never hears cases onto the lower courts have considered them, but arizona said it could take years for the lawsuits to go through state and federal court and officials have decided the urgency of the epidemic simply does not have time to wait. legal experts say the arizona case is a long shot and they point to a phase in 2017 where the justices turned down a request by nebraska and oklahoma to challenge colorado. in this case a spokesperson men from the families had the accusation was inconsistent with the factual record and vowed to vigorously defend the allegatio. from 1999 to 2017 sum of 400,000 people in the u.s. died from opioid overdose, purdue pharma and the family have repeatedly been accused of deceptively selling oxycontin including pushing doctors to give more patience on opioids at higher doses for longer periods of time. the ariz

as for the latest talks of a settlement, purdue put out a statement saying this.e pharma is prepared to defend itself vigorously, the company sees little good coming from years of wasteful litigation and appeals. the people and communities affected by the opioid crisis need help now. and john and alisyn, as you point out, all of these details about a possible settlement breaking just on the heels of that important decision in oklahoma in which a judge decided that johnson & johnson needed to be held responsible saying they should pay $572 million. >> all right. stay on this for us. it seems it's developing very quickly. >> thank you. >>> the attorney general of the united states william barr is hosting a 200-person holiday party at a washington, d.c., hotel. he's paying $30,000 out of his own pocket. guess who's going to get it. the trump family. we'll discuss next. if you have moderate to thsevere rheumatoid arthritis, month after month, the clock is ticking on irreversible joint damage. ongoing pain and stiffness are signs of joint erosion. humira can help stop

tonight a look at a recent conference held at purdue university titled u.s. politics and government from the earliest days of the american republic. american history tv airs at 8:00 p.m. eastern on c-span 3. >>> adam, the title of your paper here at the meeting is "crossing the border after the underground railroad, african-american north americans returning from canada." why was slaves trying to escape to canada and how were they able to do that? >> so, the underground railroad really is a whole set of things together. it's boats. it's some rails. it's roads. it was people trying to get out of serving, finding where they can be safe. sometimes it was just in the northern states. sometimes mexico. most famously to go to canada, being in a different country and be free from the chance they could get recaptured and brought back to slavery. >> what was that journey like? where are slaves at this time and how are they making that journey into canada? >> in the decades before the civil war slaves are every where in the united states. we think most of them being in

but to other companies, purdue , had settledva with oklahoma before at less than well under half the amount that this judge has now found johnson & johnson liable for. correct. johnson & johnson was basically the state gamble that could not find a single company, namely johnson & johnson, liable for the entirety of the opioid crisis. that their role was so miniscule that they would not be found responsible. and that strategy really ended up backfiring because as you said, they ended up paying far more than purdue and teva combined. amy: on monday, , johnson & johnsoson's attorney sabrina strong about it to a appeal the ruling. >> we have sympathy for all who buter from substance abuse, johnson & johnson didid not caue the opioid abuse crisis here in oklahoma or anywhere in this country. we d do not believe that the fas or the law supports the decision today. we have many strongrounds foror to pursued d we intend those vigorously. amy: that is johnson & johnsns's attorney sabrina strong vallen to appeal the ruling. main lurie, one of the arguments of johnson & johnson's, we did not pr

pharma gets restructured under chapter 11 bankruptcy that means that purdue goes from being a private company hauled by the sackler for. into a public beneficiary trust so whatever they make from this point forward goes into a trust which then. all the profits go to plaintiffs in the case which of course as we see more and more of these are municipalities small towns counties states and also native tribes indigenous people of the country who sit them for things they've done on tribal lands in addition. they are family or produce farm is has been working on the. addiction treatment drugs which oddly enough have taken them for ever so long to figure out they have all these things to help fight the addiction the disease that they are using to profit off of sick people and so now here you have they are saying that in part of this settlement would be that they would have to fast track their develop they would be under right now they'd have to give them to the public for free at no charge and also that they would fast track review status by the f.d.a. in order to get those anti addiction dr

now purdue could be on the hook for a blockbuster opioid settlement.ers are considering a possible 12 billion-dollar deal and would that be fair? that and so much more on

purdue pharma is best known as the developer of oxycontin. the company is facing billions of dollars in potential liability for its role in the nation's opioid crisis. it's unclear how much purdue's owners, the sackler family, would have to pay. the company has released a statement saying it's prepared to defend itself in court but says the company has made clear it sees little good coming from years of wasteful litigation and appeals and the people in communities affected by the opioid crisis need help now. talks of a potential settlement come two days after that landmark decision in oklahoma. in that case a judge ordered pharmaceutical giant johnson & johnson to pay $572 million for its role in the state's opioid crisis. adriana? >> anna, thank you. >>> nearly two dozen women who say jeffrey epstein abused them have told their stories to a judge while newly revealed police video takes us inside epstein's florida mansion. the video comes from a 2005 investigation of epstein's relationships with underage girls. epstein was jailed in new york