Purdue Pharma asks bankruptcy judge to accept new settlement plan

Purdue Pharma asks bankruptcy judge to accept new settlement plan

Purdue Pharma has filed a new bankruptcy plan as part of a $7.4 billion settlement to resolve thousands of lawsuits over the company's alleged role in the opioid crisis, months after the Supreme Court blocked a prior deal. The bankrupt company announced Tuesday it had filed a Chapter 11 Plan of Reorganization in the U.S. Bankruptcy Court for the Southern District of New York. In June of last year, the Supreme Court blocked a settlement deal, fin…

Purdue Pharma Files New Bankruptcy Plan For $7.4 Billion Opioid Settlement

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Purdue Pharma Files For Bankruptcy, Proposes New $7.4 Billion Settlement Plan In Opioid Case

Amid the ongoing opioid crisis, Purdue Pharma has proposed a new bankruptcy plan. The pharmaceutical giant is offering a settlement of at least $7.4 billion to address its role in the crisis.

Purdue Pharma, the maker of Oxycontin, goes bankrupt for the second time - Economic Scenarios

Drugmaker Purdue Pharma, famous for the large-scale production and distribution of OxyContin, filed a new bankruptcy plan Tuesday, marking a major step toward finalizing a settlement to pay $7.4 billion for opioid damages. The company that makes the powerful semisynthetic opioid oxycodone, also marketed as OxyContin and under other names, has filed a Chapter 11 plan of reorganization and related disclosure statement in the U.S. Bankruptcy Court …

Purdue Pharma presented a new bankruptcy plan that aims to address the lawsuits against her analgesic OxyContin, which has been pointed out as the cause of an opioid addiction crisis in the United States. The pharmaceutical company must cover an agreement of at least $7.4 billion after the U.S. Supreme Court's setback last year, in which it rejected an agreement to resolve thousands of lawsuits against the OxyContin to release the owners from ci…

Purdue Pharma Files New Plan To Settle OxyContin Lawsuits

Purdue Pharma asked a bankruptcy judge Tuesday to consider the latest version of its plan to settle thousands of lawsuits over the toll of the powerful prescription painkiller OxyContin, a deal that would have members of the Sackler family who own the company pay up to $7 billion. The filing is a milestone in a tumultuous legal saga that has gone on for more than five years, the Associated Press reports. The family members — estimated to be wort…