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.
Continue reading https://on.rt.com/a1sg