Purdue Considers Bankruptcy: Facing Dozens Of Lawsuits Over Opioid Crisis
At least 26 states have already sought to pursue legal action against Purdue over the opioid crisis. Purdue Pharma is responsible for creating OxyContin and they're facing significant criticism for their distribution and advertising tactics.
It's alleged that Purdue had previously downplayed the risks of opioid medication.
Some of the states that have joined in on the legal action against Purdue are Virginia, Utah, Texas, Nevada, and New York. They've already settled with at least 2 states as well. Purdue also isn't the only opioid manufacturer that's being sued over the problem.
Other manufacturers who are being sued:
- Endo Pharmaceuticals
- Johnson & Johnson
- Allergan
- Cephalon
Some of the distributors who are being sued are AmerisourceBergen and Cardinal Health. Distributors have been accused of failing to report on suspicious orders that were placed, calling for an inordinate amount of prescriptions.
These opioid lawsuits are expected to become the largest civil litigation settlement in the history of the United States.
Facing the growing legal troubles, Purdue has recently suggested that they might opt for bankruptcy as a result because overall, just like Monsanto, they're facing thousands of lawsuits.
Purdue has denied the allegations against them, asserting that they had FDA approval on the warning labels for their product.
If they do file for bankruptcy that could halt the lawsuits and Purdue could then negotiate the legal claims with plaintiffs under supervision of a bankruptcy judge. The filing could help to lessen or even potentially eradicate the damages that they might be forced to pay out.
Purdue has previously been sued by dozens of states for the same issues, allegations over misleading marketing tactics, and the company has previously agreed to cease employing those illegal marketing tactics. But marketing materials allegedly show, as well as conversations that sales reps have had with doctors, that Purdue wrongfully continued to downplay the addictive nature of the product.
The first upcoming trial to result from the thousands that have been launched against Purdue and other drug companies, is expected to begin this May. That lawsuit is being brought forward by the Oklahoma attorney general.
Pics:
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pic 2 - liz o via VERGE
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The opioid epidemic is truly a case of systemic greed. There is so much good work that is done by scientists working for pharma (me included), its a shame that all of that gets a bad wrap due to the greed of people like we see here.
I just can't fathom how people are okay with ruining lives just to make a dollar.
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I wish I could remember the video or article I read on this, where the owners on of Perdue straight up admitted on camera (or maybe it was an email from a company server that was obatained) that they new how addictive it was, but to ignore the issue and told there salesman to push it was non-addictive pain relief drug.
I didn't realize how much of an issue it was until reading that article and see all the scum and backroom deals that went on to push the product. That family will never get what they deserve for all the families that have been ruined from the lies they have told.
It's too bad they will likely file and then be fine. They will carry on as before under new labels and marketing campaigns.