Purdue pharmaceuticals files for bankruptcy

[gregjrichards]

Purdue Pharma LP filed for bankruptcy with a more than $10 billion plan to settle claims that it fueled the U.S. opioid epidemic by illegally pushing sales of its addictive OxyContin painkiller.

The Chapter 11 filing on Sunday in White Plains, New York, is designed to short-circuit more than 2,000 lawsuits against Purdue and its owners, the billionaire Sackler family. The settlement calls for the Sacklers to hand over Purdue to a trust controlled by the states, cities and counties that have sued to recoup billions of dollars they spent battling opioid addictions and overdoses.

Bloomberg - Are you a robot?

It is very wrong what the Sacklers have allegedly done and I absolutely do not condone it. I feel very sorry for the people who have died and the serious problems it has caused.

Does anyone think the Oxycodone they make will still be manufactured? I’m really worried you won’t be able to get it on prescription any longer as I have been on it for 13 years for crippling nerve and back pain. I don’t know how I will be able to survive the pain if it is stopped. I have tried reducing it and could not cope. The Sacklers own Napp Pharmaceuticals in the U.K and Napp manufactures Oxycodone here.

 

[tarabull]

OxyContin maker Purdue Pharma pleads guilty, admits to role in deadly opioid epidemic

 

[Brytongi]

More than 2000 lawsuits... Bankruptcy is the only thing that will save them. It's crazy that a pharmaceutical company made something like that, but they don't care as long as they make money. There are many cases of lawsuits against these pharmaceutical companies. It's nothing new...
Bankruptcy is not a nice thing, but when you find yourself in a situation like that, it's better to have help from a lawyer. My brother filed for bankruptcy last year, and a san diego bankruptcy attorney did most of the job for him. Having a lawyer you can trust is crucial in these situations.

 

[dixiegirl1035]

More than 2000 lawsuits... Bankruptcy is the only thing that will save them.

I hate hate hate that this has happened, and I do not yet even know the tip of the iceberg. I DO KNOW that in my LEGAL documents in my state, I ask that I be under a pain management specialist at end of life if needed. I, to this day, have a "stash" of strong medicine that was prescribed to me in case taken off the market. WELL hidden. On black market, from here at WS, I learned street value is $50/pill. Folks in pain should NOT at end of life be in pain, folks after their bones were cut up should NOT be in pain. Ahh, the days in the 90's when my mother had terminal cancer... and WHOA.. she smoked POT to allevitate pain and no appetite. SMDH .

There needs to be an option. MOO

We shall see if this company reorganizes.. and comes back released of the lawsuits as so many do.

Thanks for the update @Brytongi, and welcome to Websleuths as a new member!

 

[steeltowngirl]

WashingtonCNN —
The Supreme Court on Thursday rejected a controversial settlement that would have sent billions of dollars to treatment programs and victims of the nation’s opioid epidemic but also shielded the Sackler family from future lawsuits despite the fact that it made its fortune selling prescription opioids.

https://www.cnn.com/2024/06/27/politics/purdue-pharma-supreme-court-opioid-settlement/index.html