In a filing that signifies the beginning of the end of the country’s most notorious manufacturer of prescription opioids, Purdue Pharma submitted its bankruptcy restructuring plan just before midnight on Monday. The blueprint requires members of the billionaire Sackler family to relinquish control of the company and transforms it into a new corporation with revenue… Continue reading Purdue Pharma Offers Plan to End Sackler Control and Mounting Lawsuits
Tag: Chapter 11 Purdue Pharma
Purdue Pharma Seeks Ruling on Its Right to Billions in Insurance Coverage
Purdue Pharma LP and some of its creditors want a judge to rule on their contention that they have rights to as much as $3.3 billion in insurance coverage as the OxyContin maker continues working on a plan to exit chapter 11 and recover proceeds to help address the opioid epidemic. Stamford, Conn.-based Purdue last… Continue reading Purdue Pharma Seeks Ruling on Its Right to Billions in Insurance Coverage