Illustration: Sarah Grillo/Axios

Purdue Pharma is very close to a settlement with states, cities, counties and Native American tribes over its role in fueling the opioid epidemic — but part of the settlement puts those governments in an awkward position.

Driving the news: A major part of the proposed settlement would involve Purdue declaring bankruptcy and the Sackler family members conceding ownership.

  • Purdue would then become a "public benefit trust corporation, with proceeds going toward the governments bringing the lawsuits," the Wall Street Journal previously reported.

The intrigue: The same governments that have alleged Purdue's OxyContin has wreaked havoc on their communities would pocket all future OxyContin profits.

  • If OxyContin sales fall, that would result in less money going to state and local governments.

The bottom line: Purdue has threatened to enter bankruptcy regardless of whether this settlement offer is accepted, so some plaintiffs may feel pressured to take what they can get — even if it means they become the beneficiaries of painkiller sales they view to be tainted.

Go deeper

Kendall Baker, author of Sports
11 mins ago - Sports

Locker Room wants to reinvent how fans talk sports

Courtesy: Betty Labs

Locker Room, a social audio app where fans can talk sports and spontaneously join live conversations, launches Tuesday on the App Store.

The state of play: The company behind Locker Room, Betty Labs, has raised $9.3 million in seed funding led by Google Ventures with participation from Lightspeed Venture Partners, Axios has learned.

Updated 34 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Axios-Ipsos poll: Federal response has only gotten worse. The swing states where the pandemic is raging.
  2. Health: The coronavirus is starting to crush some hospitals. 13 states set single-day case records last week.
  3. Business: Where stimulus is needed most.
  4. Education: The dangerous instability of school re-openings.
  5. States: Nearly two dozen Minnesota COVID cases traced to 3 Trump campaign events
  6. World: Unrest in Italy as restrictions grow across Europe.
  7. Media: Fox News president and several hosts advised to quarantine.
Caitlin Owens, author of Vitals
2 hours ago - Health

The coronavirus is starting to crush some hospitals

Illustration: Aïda Amer/Axios

Some states are seeing dangerous levels of coronavirus hospitalizations, with hospitals warning that they could soon become overwhelmed if no action is taken to slow the spread.

Why it matters: Patients can only receive good care if there's enough care to go around — which is one reason why the death rate was so much higher in the spring, some experts say.

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