Purdue Pharma, the company earned billions of dollars selling the prescription painkiller OxyContin, said Wednesday that it is considering filing the bankruptcy as it battles lawsuits aimed at holding the firm for the national opioid crisis.
"As the company has said, he is investigating and preparing for any number of possibilities and options, due to the amount of litigation the company is currently facing," said Purdue spokesman Robert Johnson with The Associated Press
Hundreds of local governments and states have sued Purdue and another drug manufacturers and distributors, claiming that they are responsible for the national opioid crisis in the allegedly fierce and fierce marketing of their products. If Purdue files for bankruptcy, federal litigation judge could decide whether cases involving other companies can go ahead, and Purdue
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President and Chief Executive Officer Craigdue's Craig Craigdau, for The Washington Post did not make a definite decision about bankruptcy, but, considering the impact of legal settlements or jury verdicts could cost Purdue Pharma billions of dollars, greatly
“ We are thinking about it, but we have not really made any decisions about what action to take. Much depends on what happens in the coming weeks and months, ”said Landau.
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While Purdue products are not only part of prescribed opioids, documents from the State Solicitor General of Massachusetts, in a drug sales attempt to hike, mislead Purdue doctors who were reluctant to prescribe strong painkillers to their patients. Purdue claimed that she did not pay attention to safety and addiction and that doctors were convinced that their drugs were safe to increase profit margins at the cost of patients given their products.
Purdue is the chief defender in the trial of May 28 against Oklahoma state. The prosecution could seek more than $ 1 billion from drug companies, according to The Post.
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Prosecutors made the most of the conventions consolidated in Cleveland's federal court when they held settlement talks before two trials This fall is scheduled but bankruptcy hearings would probably remove the legal process for Purdue.
Purdue Pharma is privately owned by a Sackler family, who employed an executive team and an experienced consultancy team in restructuring companies during legal and legal financial crises. Court records in Massachusetts show that the family received more than $ 4 billion from Purdue from 2007 to 2018.
The Associated Press contributed to this report