Oxycontin-maker Purdue Pharma reportedly exploring bankruptcy amid litigation over opioids

  • 📰 CNBC
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 72%

Law Law Headlines News

Law Law Latest News,Law Law Headlines

OxyContin-maker Purdue Pharma is exploring filing for bankruptcy amid thousands of lawsuits alleging the drug manufacturer contributed to the deadly opioid crisis sweeping the US, according to Reuters.

OxyContin-maker Purdue Pharma is exploring bankruptcy protection amid accusations of igniting a nationwide opioid crisis by ruthlessly marketing and misleading doctors and patients about the dangers of the highly addictive narcotic.

A bankruptcy filing is not certain, Reuters reported, citing anonymous sources. Purdue Pharma has not made any final decisions and could instead continue fighting the lawsuits, Reuters said. Purdue, which has been the targeted of several lawsuits, and other manufacturers faces a trial in May filed by Oklahoma Attorney General Mike Hunter. Accusations against the Stamford, Connecticut-based company include downplaying the addiction risk while overstating the benefits of opioids.

The company has denied any wrongdoing. They say labels for its painkiller carried warnings about the risk of abuse and misuse associated with the drugs.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Shame, have to make sick people suffer to protect people who will eat tide pods, it's not fair

DARPA's can refund 911 money. We have Putin now Putin = peace for 1,000 years like me he holds trident. Putin has liberated my mind that was a slave for 20 years of corrupt agenda... go fuk yourself want my back pay and mk ultra retirement plan. I was going to missile ripple ...

Good

The Sackler family should be RICO ed too they profitted from the opioids epidemic and are drug dealers.

Everyone involved in this should be prosecuted and go to gaol.

Bankruptcy is the scapegoat of the wealthy.

Its not only the company’s fault. It’s the individual doctors and the patients themselves. It’s a three fold blame. The company should be least to blame. The biggest blame on doctors who abused. Patients should be culpable as well.

Hmm, I think doctors know the truth

Now this is a reason to celebrate!!!!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in LAW

Law Law Latest News, Law Law Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Exclusive: OxyContin maker Purdue Pharma exploring bankruptcy - sourcesThe 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
Source: YahooNews - 🏆 380. / 59 Read more »

Exclusive: OxyContin maker Purdue Pharma exploring bankruptcy - sourcesThe 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
Source: YahooNews - 🏆 380. / 59 Read more »