Purdue Pharma files for bankruptcy

STATEWIDE - Purdue Pharma has filed bankruptcy.

The drug company took that step Sunday as a method for settling litigation with numerous states and governments that say the company fueled the opioid crisis.

Purdue Pharma issued a statement that says the "court-supervised process is intended to, among other things, facilitate an orderly and equitable resolution of all claims against Purdue."

Pharma's owner is the Sackler family. They say they are working toward a "global resolution" for the matter.

They've also offered nearly $5 billion and part of future revenue from its drug sales.