Exclusive: OxyContin maker Purdue Pharma exploring bankruptcy - sources

(Reuters) - OxyContin maker Purdue Pharma LP is exploring filing for bankruptcy to address potentially significant liabilities from roughly 2,000 lawsuits alleging the drug manufacturer contributed to the deadly opioid crisis sweeping the United States, people familiar with the matter said on Monday.

The potential move shows how Purdue and its wealthy owners, the Sackler family, are under pressure to respond to mounting litigation accusing the drugmaker of misleading doctors and patients about risks associated with prolonged use of its prescription opioids.

Purdue denies the allegations, arguing that the U.S. Food and Drug Administration-approved labels for its opioids carried warnings about the risk of abuse and misuse associated with the pain treatments.

Filing for Chapter 11 protection would halt the lawsuits and allow Purdue to negotiate legal claims with plaintiffs under the supervision of a U.S. bankruptcy judge, the sources said.

Shares of Endo International PLC and Insys Therapeutics Inc, two companies that like Purdue have been named in lawsuits related to the U.S. opioid epidemic, were down more than 12 percent and more than 5 percent, respectively, on Monday morning.

More than 1,600 lawsuits accusing Purdue and other opioid manufacturers of using deceptive practices to push addictive drugs that led to fatal overdoses are consolidated in an Ohio federal court. Purdue has held discussions to resolve the litigation with plaintiffs’ lawyers, who have often compared the cases to widespread lawsuits against the tobacco industry that resulted in a $246 billion settlement in 1998.

A Purdue bankruptcy filing is not certain, the sources said. The Stamford, Connecticut-based company has not made any final decisions and could instead continue fighting the lawsuits, they said.

“As a privately-held company, it has been Purdue Pharma’s longstanding policy not to comment on our financial or legal strategy,” Purdue said in a statement.

“We are, however, committed to ensuring that our business remains strong and sustainable. We have ample liquidity and remain committed to meeting our obligations to the patients who benefit from our medicines, our suppliers and other business partners.”

Purdue faces a May trial in a case brought by Oklahoma’s attorney general that, like others, accuses the company of contributing to a wave of fatal overdoses by flooding the market with highly addictive opioids while falsely claiming the drugs were safe.

Last year, U.S. President Donald Trump also said he would like to sue drug companies over the nation’s opioid crisis.

Opioids, including prescription painkillers, heroin and fentanyl, were involved in 47,600 overdose deaths in 2017, a sixfold increase from 1999, according to the latest data from the U.S. Centers for Disease Control and Prevention.

Purdue hired law firm Davis Polk & Wardwell LLP for restructuring advice, Reuters reported in August, fueling concerns among litigants, including Oklahoma Attorney General Mike Hunter, that the company might seek bankruptcy protection before the trial.

Companies facing widespread lawsuits sometimes seek bankruptcy protection to address liabilities in one court even when their financial condition is not dire. California utility PG&E Corp filed for bankruptcy earlier this year after deadly wildfires raised the prospect of large legal bills even though its stock remained worth billions of dollars.

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reuters.com/article/us-purduepharma-bankruptcy-exclusive/exclusive-oxycontin-maker-purdue-pharma-exploring-bankruptcy-sources-idUSKCN1QL1KL?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed: reuters/topNews (News / US / Top News)

Massachusetts Attorney General Maura Healey in June became the first attorney general to sue not just Purdue but Sackler family members. Records in her case, which Purdue has asked a judge to dismiss, accused Sackler family members of directing deceptive marketing of opioids for years while enriching themselves to the tune of $4.2 billion.

Some other states have followed suit, also suing the Sacklers. The Sacklers are currently discussing creating a nonprofit backed by family financial contributions to combat addiction and drug abuse, said a person familiar with their deliberations.

The drugmaker downplayed the possibility of a bankruptcy filing in a Feb. 22 court filing in the Oklahoma case. “Purdue is still here - ready, willing and eager to prove in this Court that the State’s claims are baseless,” the company said in court papers.

Sales of OxyContin and other opioids have fallen amid public concern about their addictive nature, and as restrictions on opioid prescribing have been enacted. OxyContin generated $1.74 billion in sales in 2017, down from $2.6 billion five years earlier, according to the most recent data compiled by Symphony Health Solutions.

Purdue Chief Executive Officer Craig Landau has cut hundreds of jobs, stopped marketing opioids to physicians and moved the company toward developing medications for sleep disorders and cancer since taking the helm in 2017.

In July, Purdue appointed a new board chairman, Steve Miller, a restructuring veteran who held leadership positions at troubled companies including auto-parts giant Delphi and the once-teetering insurer American International Group Inc.

Mortimer D.A. Sackler is the sole member of Purdue’s founding family remaining on the company’s board, according to records maintained by the Connecticut secretary of state.

The Oklahoma case and other lawsuits seek damages from Purdue and other pharmaceutical companies accused of fueling the opioid crisis. In addition to lawsuits consolidated in an Ohio federal court, more than 300 cases are pending in state courts, and dozens of state attorneys general have sued manufacturers, including Purdue.

Settlement discussions have not yet resulted in a deal.

Purdue and three executives in 2007 pleaded guilty to federal charges related to the misbranding of OxyContin and agreed to pay a total of $634.5 million in penalties, according to court records.

reuters.com/article/us-purduepharma-bankruptcy-exclusive/exclusive-oxycontin-maker-purdue-pharma-exploring-bankruptcy-sources-idUSKCN1QL1KL?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed: reuters/topNews (News / US / Top News)

did an electronic ai write this article?

Trumps new anti-Jew-pharma-stop-killing-white-people-with-oxy policies have bankrupted the company, but all going according to plan: Jews make more shekels with heroine, which is what those white people will resort to now.

fuck off pharmakike

I wish opioids were just legal. People would have their addictions dragged into the sunlight. They’d even learn that the ducktear isn’t the last word on what they should put into their body. Opioid dens were a pre-internet phenomenon. People don’t want to obey addictions.

Bad marketing would die faster in a legalized world.

lol lrn 2 rd

Even as an advocate of broad legalization there’s still something of a sympathy ladder; people who go from bad to worse in drugs are kind of failing at life. Some people will realize they should stiff out the withdrawal and will scream in their own closet rather than start on something worse.

And to some extent, if people want to go diving off the hedonic cliff pumping dreck into their veins, maybe they ought to. It’s their life to be miserable in if they’d rather be chained addicts than functioning hedonists. (Drugs suck too much long-term to qualify as hedonism.)

I’m ignoring the antisemitic schlock because it’s shallow and kinda funny this time. People know not to ask Jews for street drugs; those are dealt out by other people.

After all the profits have been secured away of course.

Fuck off nigger, Zig Forums expects effort.

Yes, I should have made the effort to reformat the article and make it even more of a wall of text and completely unreadable in the catalog. Sincere apologies, faggot.

Kill yourself reddit.

We know.

We know. Take your own advice

Ok half jew half nigger.

Class-Action suit when?

Newfags, stop with the fucking copypastas. Bake a proper bread. Use your brain, think of something you want to say about whatever it is you think you NEED to copypasta, and present that along with the fucking link and archive. this nigger actually got the archive so there's hope
You don't need to spam an article here trying to drum up outrage to get your jollies. You're not new, you aren't original, you aren't part of the solution acting like niggers. You already have half for that bullshit and if you're just slinging rage-news there's reddit.
Lurk 2 years and you'll realize hate/pol/ is something more.

Holy shit fuck off get out of my damn thread. Filtered.

How would that affect a bankrupt/dissolved company? They need to be able to pin the individuals down criminally so people can go after them as individuals in civil suits.

You know if we broke up some of these pharmafarms, maybe the collective could rub its hands on some more chemistry prophets, yo. Make this stuff a little bit everywhere, teach people a bit of business predation, a bit of that superiority of being the clean provider of good clean filth…

Well, I wouldn’t do it, but maybe it’d be somebody’s ladder.

This is bullshit, they should't akkiw this it wink kaki these Jew demons to keep the vast amount if their assets, i get into them back in `2002 when they were only $4 a pill or so. My steroid dealer would sell them (the ones they sell now are fucking lessees, but 150 yrs ago,2 40 mg or these would send you to the moon.
IF you were in a good cycled worked out HARD, really fucking hard, took a hot shower, then 2 fucking oxys and went into the sauna for 35 mins then just as they kicked in you went into a freezing cold shower with your muscles as sore it was the best fucking feeling in the WORLD.
As usual, assholes who can't hold their own gear ruins shit for everyone. And a ig THANK YOU to the Jews for promoting fat asses like niggers on White girls (which are fucking GROSS and completely un-aryan…and you won't be forgotten on DOTR).
used to have my favorite fucking gym. upstairs with the cardio and dumbbells going up to 15. So you could actually fucking CONCENTRATE. When you are on monster stye, LASR thing you need to ee is a ucking GIRL while you are working out so you get a fucing hard on.
Wa s a pERFECT set up do your 30 min warm up, your weights, the your 30 min cool down behind some cute girl on an elpitcal now. Instead, fucking NOWyou have girl DOWNSTAIRS with the free weights. In the past 6 months aloe, have seen THREE fucking girl tear their rotator cuffs since the cunts do NOT understand the you MUST pull the lat pull down TO THE FUCKING FROT.
Ton of other shit they do wrong, Ina seated lat pull their form is all off, they start with too much fucking weight. Then FUCKING RUINING DUMBBELLS. They ruin the entire thing, they don't understand when you are trying to do….drop sets, run the rack, whatever. And CHRIST, I NEVER, EVER thought I'd see the day where my old-fashioned, shithole gym had dumb cunts lining up 6 at a time for "Selfies" at the goddam squat rack!!! And not only do they have awful form and no idea what they are doing, the also fuck up the entire flow of the gym, where they fuck up the big 3– Deadift, Squat, Bench
it's awful. Now you have to take either a 1

;30 minute subway ride to Ferrigno's gym. Alternatively, you can go much closer and head ti a literal FAG GYM, but then you risk getting itoa fight and laying out a queer who tries to grab your fucking cock.
SO, thank you, feminists. His is what you've done to life in "current year," Females insist on and protect their OWN fucking gyms, but they INSIST on being able to keep their own fucking gyms (and not just fucking dyke gym, oh no).
Sp essentially females have normal gyms for themselves, while male gyms are filled wth 4/10 e-hot hookers taking pics of there (pt getting one beta orbiter to do it/
0 gross fucking asses (and some o them have vag smell so awful you can fell in at 15 feet, not kidding.
Thanks, Jews,

(((Sackler))) family.

Fixed that for you. The same happened in China when the (((Sassoon))) family started the opium epidemic. The British were by astonishing cohencidence blamed for it despite the (((Sassoon))) family being Iraqi Jews.

Care to elaborate on that?
Absolute beast mode tbh.
That's….. that's just terrible.

No it fucking doesn't. Kill yourself 😂💯

No it fucking isn't. This is a cucked global board where jew worship is spammed and accepted while doing literally anything at all gets you labeled a Fed. This place is a joke. Even kikey was better.

It's in the state it's in because you jew fucks are here shitting the place up after forcing it into a global.

Pretty sure leftypol was doing that.

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GOLD, WORKDM ATKAS,,,>>12876067

Question how is the Constitutional for them still to have still have their own "female gyms" buy men aren't allow to have such gyms of their own, save for the faggot one? A: IT MOST CERTAINLY FUCKING IS NOT.

Who do you think runs that shitshow?

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Low quality bot?

Are you a seizure?

Learn to read. It takes a couple of minutes to read that.

Did it fuck up its stack with tranny pills?

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Classic Jewry. Fuck over millions of people, stash the billions in profits overseas, then declare bankruptcy to absolve themselves of any responsibility. Fucking vampires. These people deserve everything that's coming to them, and then some. There is no way Whites could ever be evil enough to properly repay them for their crimes, so I sure hope there's a Satan.

If nations really want to work together and start turning the screws to the jews they could stop protecting assets. Anyone protecting assets like some of these (((neutral))) nations do are enemies.

I'm dumbfounded at how far this board has fallen just in the past two years. The kikes run rampant while all the good shit is banned. It's only a half step above cuckchan and pretty soon the two will be indistinguishable. Time to head for greener pastures.

Sure but you're mainly talking about Island Nigger nations with no morality, no ethics, and no desire to reject blood money from international parasites. Then there is Switzerland, probably the most kiked nation in Europe, which will never stop supporting these tapeworms. We both know our problem will never be solved through legal or financial avenues.

Granted, White in the US deserve more credit than they are given, since the avg White is this nation are about 99% White. And is wit the Jews counting 7/8 la Abominaciom, 1/8th Spanish countrd as (((WhiteWhite))

The article reads like a bot wrote it, each line is double spaced as well. I'm no fan of pharma, which is why I didn't sage, but wtf show some effort faggot.

It would have been preferred if the post was a human's summary, perhaps with a few quotes, and a link to the archived article. If you want a hug box go back to reddit, it's okay to call OP a faggot here.

There is an archive, faggot.

I realize that, I was just explaining that I'm not a pharma kike and I don't think OP is a bot. I do think the article was written by ai though and OP is a faggot. Capiche?

Gotcha, you just mentioned the archive specifically which is the only thing the nigger got right. kek

Oh, forgot my fucking point.L Which is, that every single fucking girl on that awful fuckjing shofrom the youngest to the 64 year old) is given a big black black NIGGER Buck as a Boyfriend.

Mewwhile, the one fucking brother is a fat, repulsive cuckold who got his fucking sister;s sloppy seconds from a nigger genuinely looks like a law jockey if you've ever seen one in the South when they bring out antiques for summer parties with a STRICT "No Fucking cells allowed Idiots''

Are you okay mate?

There is hope yet for op

This one not so sure…

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Has Anyone Really Been Far Even as Decided to Use Even Go Want to do Look More Like?

Bob: i can i i everything else . . . . . . . . . . . . . .

Alice: balls have zero to me to me to me to me to me to me to me to me to

Bob: you i everything else . . . . . . . . . . . . . .

Alice: balls have a ball to me to me to me to me to me to me to me

Bob: i i can i i i everything else . . . . . . . . . . . . . .

Alice: balls have a ball to me to me to me to me to me to me to me

Bob: i . . . . . . . . . . . . . . . . . . .

Alice: balls have zero to me to me to me to me to me to me to me to me to

Bob: you i i i i i everything else . . . . . . . . . . . . . .

Alice: balls have 0 to me to me to me to me to me to me to me to me to

Bob: you i i i everything else . . . . . . . . . . . . . .

Alice: balls have zero to me to me to me to me to me to me to me to me to

>Mew-while, the one fucking brother is a fat, repulsive cuckold who got his fucking sister;s sloppy seconds from a nigger genuinely looks like a lawn jockey if you've ever seen one in the South when they bring out antiques for summer parties with a STRICT No Fucking cell phones. AT ALL. Idiots.'
Responding to me own post to my own post re: lawn jokeys. 20 years ago, when I was 16 and would make the drive with my GF from Memphis and then get about an Hour into TN, you'd start seeing REAL fucking Lawn Jockeys, like family heirlooms.
IF you're from Europe or from the North and find one that you pr your woman really, really likes, you adn try haggling for it. HEre's where you need to be fucking careful though. Whute Trash.Old Money i've found will usually call them "Ce-ment Yard Niggers." Middle class call them "lawn jockey.
Problem these days is that with Jewtube, everyone thinks they're a fucking reporter and lots of fuckers try that hidden camera.. If you are a European girl and you have shekels, and you find one somewhere in Miss. You may have to blow/fuck one of the loyal guys, but odds on h won't be gross or far.
NOW, if you are European GUY and you really, really all in love with a local ce-ment yard nigger itd owned by s GIRL who is by all measures, a fucking oinker, THAT one is up tp you.
Keep in mind, they look small but HEAVY AS FUCK. MY GF found one that she loved in Arkansas, I had to have the fucking guys son help me carry it to SUV. I'm a 4 day a week gym Fag along with Test Cyp, Anadrol-50 ,
1 gram of Deca every 10 days. Fucking things, esp the originals from 1870s-1890s are HEAVY. Like 160lb-180lb from a deadlift to moving the fucker, that kind of heavy

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i see.

I'm really digging the deliberate and incomprehensible derailment going on so far.


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Do your job, nigger.

Has the board fallen or have you risen?

Are you paid per hour or per post?

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Shut the fuck up kike

Make sure to kill the (((Sackler family))) for the damage that they have wrought on to this nation.