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Purdue Is Preparing for a Possible Bankruptcy Amid Opioid Lawsuits

Tuesday, March 5, 2019   (0 Comments)
Posted by: Caitlin Price
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Source: Bloomberg

Oxycontin-maker Purdue Pharma LP is preparing for a possible bankruptcy filing as it faces hundreds of lawsuits over its role in the U.S. opioid epidemic, Reuters and the Wall Street Journal reported Monday. The drugmaker has hired advisers to prepare for a potential filing, the Journal said, citing people familiar with the matter. Bankruptcy would let the company negotiate claims with some of the more than 1,500 cities, states, local governments and other entities that have sued Purdue and other health companies over their roles in the opioid epidemic. Read the full story on Bloomberg's website.


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