Purdue Nearing Broad Settlement With Sacklers, Mediator Says (1)

OxyContin maker Purdue Pharma LP has made significant progress toward a sweeping settlement with members of the Sackler family who own the drugmaker, but needs more time to continue working on a deal, a court-appointed mediator said Thursday.

Shelley Chapman, a retired bankruptcy judge who is one of two mediators overseeing the settlement talks, said during a court hearing in New York there are still a number of issues that must be resolved before a deal is reached. However, there has been “substantial and meaningful movement” toward a settlement, she said.

“The parties are getting closer and closer by ...