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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 bob_super on Wednesday March 06 2019, @06:59AM (1 child)
How much would those premiums have gone up without the ACA excuse ?
Forecasts were dire enough that the insurance companies agreed to some changes.
I still don't get how they let the individual mandate get cancelled without a lobbying fight.
(Score: 1) by fustakrakich on Wednesday March 06 2019, @04:39PM
I still don't get how they let the individual mandate get cancelled without a lobbying fight.
The conflict of interest was too powerful to cover up. ACA was a republican plan all along. They too, needed the mandate to sell the windfall to the "moderate" democrats that didn't like the actually good parts of the bill. And then the repeal of the mandates bought some votes from the fan base.
La politica e i criminali sono la stessa cosa..