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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: 2) by julian on Tuesday March 05 2019, @11:02PM
I mean the health care law that allowed my brother to get medical insurance, and thus care, for the first time in his adult life and discover a heart condition which might have killed him later. You're not the only person in this country. The ACA helped many people, and while I am sorry that it did not work to your benefit, your solipsism is deeply unproductive in addition to un-American. By chance do you happen to live in a state controlled by the aforementioned pro-corruption party? The Republicans deliberately sabotaged the ACA in their states where they controlled the governorship and legislature, inflicting pain on their own citizens in order to spite Obama.
Your anger is justified but misplaced. The Republicans and right-wing Democrats are the ones you should be mad at. The problem with the ACA was it did not go far enough, but maybe we will get universal health care one day. If we do, it won't be the pro-corruption party that we will have to thank for it.