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posted by martyb on Monday September 16 2019, @11:08PM   Printer-friendly
from the A-Rose-By-Any-Other-Name dept.

https://www.bbc.com/news/business-49711618

In the face of thousands of lawsuits about the alleging abusive practices contributing to the opioid crisis in the US, Purdue Pharma (makers of OxiCotin) are filing Chapter 11 Bankruptcy protection. If the courts agree, this would allow them to restructure their debts and continue operations.

"Under the terms of the [proposed] deal, Purdue is to be dissolved and the money raised - estimated to be about $10bn-$12bn (£8bn-£9.7bn), including a minimum cash contribution of $3bn from the Sackler family - will go towards settling the lawsuits. The Sacklers have also offered an additional $1.5bn from the eventual sale of Mundipharma, another pharmaceutical firm owned by the family.

Several of the states that oppose the deal, such as New York, Connecticut and Massachusetts, have questioned how Purdue came up with the contribution figure.

The states want the Sackler family to put in more of its own money into the deal."

Note: Bankruptcy is not what regular people think it is. Similar to the "kill" command in Unix/Linux, there are lots of versions which may or may not do what people think. As an example, see: https://www.credit.com/debt/filing-for-bankruptcy-difference-between-chapters-7-11-13/


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  • (Score: -1, Flamebait) by Anonymous Coward on Tuesday September 17 2019, @01:53AM (3 children)

    by Anonymous Coward on Tuesday September 17 2019, @01:53AM (#894949)

    Those questions are not relevant to this thread.

    I want to know more about this notion of throwing them into "federal pound-me-in-the-ass prison" that Azuma supports.

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  • (Score: 0, Flamebait) by Azuma Hazuki on Tuesday September 17 2019, @02:30AM (2 children)

    by Azuma Hazuki (5086) on Tuesday September 17 2019, @02:30AM (#894955) Journal

    "Hyuk hyuk hyuk, lookit me, I'mma expose me sum lib'rul hypocrisy hurrrrr~!"

    Stupid bastard. It's a figure of speech. But you know, since I tend to deal in eye-for-eye retribution, let me turn the tables on you with another question: how can these drug lords be made to properly suffer? I'd actually say that being stripped entirely of all assets and forced to live as minimum-wage retail peons for the rest of their lives might actually, in the aggregate, be *worse* punishment. Think of it as an area-under-the-curve question, to be extremely relevant to the subject of pharmaceuticals :)

    --
    I am "that girl" your mother warned you about...
    • (Score: 0) by Anonymous Coward on Tuesday September 17 2019, @07:40AM (1 child)

      by Anonymous Coward on Tuesday September 17 2019, @07:40AM (#895059)

      In the '60's, they said:

      God Damn, the pusher man!

      Same as it ever was. Azuma Hazuki is right on target with this one.

      • (Score: 2) by Gaaark on Tuesday September 17 2019, @12:31PM

        by Gaaark (41) on Tuesday September 17 2019, @12:31PM (#895107) Journal

        Except now, the 'pusher man' has power, money and influence: the war on drugs stops at his doorstep.

        --
        --- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---