Purdue Pharma CEO says bankruptcy is ‘an option’ as company faces opioid lawsuits

The headquarters of Purdue Pharma, the drugmaker that produces OxyContin, is seen March 5 in Stamford, Conn. By Katie Zezima Katie Zezima National reporter covering vice Email Bio Follow March 13 at 9:01 AM Purdue Pharma’s chief executive said the company is considering bankruptcy as it faces a cascade of lawsuits alleging that the drugmaker played a key role in driving the nation’s opioid crisis, including aggressively and deceptively marketing the powerful painkiller OxyContin.

Purdue is one of a number of defendants in a separate Oklahoma state trial scheduled to begin May 28. It will be the first trial at which a jury could decide whether drug companies bear responsibility for the opioid crisis; settlement talks are ongoing. People familiar with the case have said Oklahoma could seek more than $1 billion from the defendants.

The company said that the Food and Drug Administration has granted the drug — an injection of nalmefene hydrochloride — the agency’s fast-track designation, which will speed up its pharmaceutical development and agency review. The FDA fast-tracked over-the-counter naloxone in January, and it is moving quickly on non-opioid drugs to treat pain.

Fentanyl is the third wave of the opioid epidemic, which started with prescription painkillers. After the government cracked down on illicit prescribers and tried to address the flow of pills to the black market, those addicted to the painkillers turned to heroin.

Since big drug companies have been bankrupting its customers for decades, this sounds fair to me.

Oh please. Shameless

How very Trumpian

Weasels

This is so ridiculous. There should be a civil and criminal action against the execs at Purdue Pharma and the others who knowingly participated in the opioid crisis. It would be a miscarriage of justice for them to walk away from this having profited or without recourse.

LOCK THEM UP

Lets not pretend we haven't seen this shell game. * Purdue Pharma Execs and Board quit, use Parachute to Form LLC *Purdue Pharma Files Bankruptcy *Above LLC Buys, Renames Purdue Pharma *Business as usual with Plaintiffs given no recourse. *Raise Price of Oxy for spite. *Profit

Good

This drug saved my life. Of course, if they misled physicians or pushed them to give it out like candy, then they should pay. But it’s time we consider the underlying socio-economic issues behind addiction.m if we really want to solve the problem.

The principal players with all take their money, run, then let the chips fall where they will.

Americans paid less for prescriptions in 2018 FDA's improved efficiency in approving generics has shortened the drug approval process. All thanks to Trump's drug pricing strategy.

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