Purdue Pharma settles OxyContin suitJun 13, 2006 | UPI
Stamford, Conn.,-based drug maker Purdue Pharma L.P., reportedly has settled a civil case relating to its prescription painkiller OxyContin.
The case was brought by the company's insurer, Steadfast Insurance Co., a unit of Zurich Insurance Co., over high legal costs incurred by Purdue in defending several lawsuits alleging OxyContin is addictive, the Wall Street Journal reported Tuesday.
The Journal reported the settlement came on the eve of a trial of Steadfast's case. The two sides said a settlement had been reached but did not disclose details.
One expert told the Journal, "As the drug and health industry face greater liability, they will come into greater conflict with their insurance companies."