Purdue has filed for bankruptcy protection after a settlement offer from the company over the opioid crisis was rejected by 24 states.
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A settlement has purportedly been agreed between Purdue Pharma and 23 US states to resolve the opioid crisis case against the company.
A report has found that the rejection of a settlement offer from Purdue has led to the company arranging to file for bankruptcy.
The two pharma companies have agreed to pay $15 million to certain Ohio counties before an opioid abuse trial to be held in October.
The pharmaceutical company is planning to appeal the decision to pay the state for damages relating to the US opioid crisis.
A total of 48 US states are now suing Purdue Pharma, claiming they falsely marketed their opioid drug.