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

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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