Other Pharma companies take note! OxyContin maker files for bankruptcy faced with over 2,000 lawsuits over opioid epidemic

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Purdue Pharma, accused of fostering the US opioid crisis with its drug OxyContin, filed for bankruptcy protection in a New York court, after a tentative settlement deal faced opposition from multiple states.

The company filed for chapter 11 bankruptcy in White Plains, New York on Sunday evening, as part of its efforts to finalize a settlement with state and local governments, which sued the pharmaceutical giant en mass for its role in the nation’s deadly opioid crisis.

The much-anticipated filing aims to help the company to shield itself from 2,600 lawsuits, including from 26 states.




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