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OxyContin maker Purdue Pharma reportedly exploring bankruptcy
OxyContin maker Purdue Pharma is exploring filing for bankruptcy to address potentially significant liabilities from thousands of lawsuits alleging the drug manufacturer contributed to the deadly opioid crisis sweeping the United States, people familiar with the matter said on Monday.
The deliberations show how Purdue and its wealthy owners, the Sackler family, are under pressure to respond to mounting litigation accusing the pharmaceutical company of misleading doctors and patients about risks associated with prolonged use of its prescription opioids.
Purdue denies the allegations, arguing that the U.S. Food and Drug Administration-approved labels for its opioids carried warnings about the risk of abuse and misuse associated with the drugs.
Filing for Chapter 11 protection would halt the lawsuits and allow the drug maker to negotiate legal claims with plaintiffs under the supervision of a U.S. bankruptcy judge, the sources said.
No "Big Tobacco" moment for Purdue Pharma. Cut and run.
Previously: City of Everett, Washington Sues OxyContin Maker Purdue Pharma
OxyContin's 12-Hour Problem
South Carolina Sues OxyContin Maker Purdue
Tens or Hundreds of Billions of Dollars Needed to Combat Opioid Crisis?
Purdue Pharma to Cut Sales Force, Stop Marketing Opioids to Doctors
Colorado Attorney General Sues Purdue Pharma
Related: The Dutch Supply Heroin Addicts With Dope and Get Better Results Than USA
U.S. Opioid Deaths May be Plateauing
(Score: 3, Informative) by DeathMonkey on Monday March 04 2019, @10:34PM (1 child)
The only reason it won't pass is due to the Pro-Corruption party.
Why do you defend the Pro-Corruption party?
(Score: 1, Insightful) by Anonymous Coward on Wednesday March 06 2019, @04:56PM
Pro-Corruption party
Is there another kind? On the ballot? I mean, there is, kinda, but they only get around one or two percent of the vote. The Pro-Corruption party gets the rest, sharing the power the same way used car dealers shuffle their inventory. The Pro-Corruption party only thrives because of Pro-Corruption voters that want a piece of the action. They make the Pro-Corruption party the only viable option, and they will tell you so! "Third party vote is a wasted vote". They couldn't be more obvious!