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    Purdue Pharma considers bankruptcy over OxyContin trial

    GarimaWritten by Garima Published On 2019-03-16T09:00:58+05:30  |  Updated On 16 Aug 2021 10:41 AM IST

    Connecticut-based Purdue Pharma's statement comes as the first trial date nears in hundreds of lawsuits aiming to hold the company and others in the drug industry accountable for the U.S. opioid crisis. It issued the statement after its president and CEO told The Washington Post that bankruptcy is under consideration.


    U.S: The company that has made billions selling the prescription painkiller OxyContin says it is considering bankruptcy as one of several possible legal options.


    Connecticut-based Purdue Pharma's statement comes as the first trial date nears in hundreds of lawsuits aiming to hold the company and others in the drug industry accountable for the U.S. opioid crisis. It issued the statement after its president and CEO told The Washington Post that bankruptcy is under consideration.


    Read Also: OxyContin maker Purdue Pharma exploring bankruptcy: Report


    The filing would likely pause the litigation, at least as far as it concerns Purdue. A federal bankruptcy judge would have wide discretion on what comes next.


    The lawsuits assert the company aggressively sold OxyContin as a drug with a low chance of triggering addictions despite knowing that wasn't true.


    Read Also: OxyContin maker Purdue Pharma accused of deceiving patients and doctors

    bankruptcyCEOopioidOxyContinpainkiller OxyContinPurduePurdue PharmaPurdue UniversityU S opioid
    Source : AP

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    Garima
    Garima

      Garima joined Medical Dialogues in the year 2017 and is currently working as a Senior Editor. She looks after all the Healthcare news pertaining to Medico-legal cases, MCI/DCI decisions, Medical Education issues, government policies as well as all the news and updates concerning Medical and Dental Colleges in India. She is a graduate from Delhi University. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751 To know about our editorial team click here

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