Purdue Pharma Files for Bankruptcy Amid Opioid Settlement Talks

Purdue Pharma has filed for bankruptcy.

The drug company took that step Sunday as a method for settling litigation with numerous states and governments that say the company fueled the opioid crisis.

Purdue Pharma issued a statement that says the “court-supervised process is intended to, among other things, facilitate an orderly and equitable resolution of all claims against Purdue.”

The Sackler family, Pharma’s owner — says they are working toward a “global resolution” for the matter.

They’ve also offered nearly $5-billion and part of future revenue from its drug sales.


Source: NewsNet | Purdue Pharma Files for Bankruptcy Amid Opioid Settlement Talks