Endo International PLC, Johnson & Johnson and other drugmakers that face sprawling litigation over the opioid crisis are exploring an unusual way to settle the cases: by participating in Purdue Pharma LP’s bankruptcy, according to internal documents and a person familiar with the matter. The move, if successful, could bring an end to—or at least… Continue reading Novel Plan Aims to Settle Opioid Suits: WSJ
Tag: opioid crisis
OxyContin Maker Purdue Pharma Files for Bankruptcy Protection
Purdue Pharma LP filed for bankruptcy protection Sunday night with a partial deal aimed at resolving thousands of lawsuits filed by states and municipalities accusing it of fueling the opioid crisis. The filing, made in federal bankruptcy court in White Plains, N.Y., marks a remarkable downfall for the closely held company started more than five… Continue reading OxyContin Maker Purdue Pharma Files for Bankruptcy Protection
Purdue Pharma in Talks to Resolve Opioid Cases through Bankruptcy
OxyContin maker Purdue Pharma LP and its owners, the Sackler family, are in talks with state and local governments to resolve more than 2,000 opioid cases in a deal valued at between $10 billion and $12 billion, according to people familiar with the matter. The discussions, part of a mediation to end the mounting litigation… Continue reading Purdue Pharma in Talks to Resolve Opioid Cases through Bankruptcy
Judge Rules Johnson & Johnson Must Pay Over $572M for Its Role in Oklahoma Opioid Crisis
An Oklahoma judge on Monday ordered Johnson & Johnson to pay over $572 million for pushing doctors to prescribe opioids while downplaying the risks of addiction, actions that state prosecutors said helped fuel the state’s opioid epidemic andled to more than 6,000 deaths over nearly two decades. Oklahoma Attorney General Mike Hunter claimed in court… Continue reading Judge Rules Johnson & Johnson Must Pay Over $572M for Its Role in Oklahoma Opioid Crisis
Hartford Financial Takes on the Opioid Epidemic
Every day, Hartford Financial Services Group Inc. uses artificial-intelligence software to scan its files of workers’ compensation cases for people at risk of opioid addiction. The company’s algorithms comb through millions of digital notes by claims handlers and summaries of the workers’ medical records looking for clues such as insomnia, anxiety, a recent divorce or… Continue reading Hartford Financial Takes on the Opioid Epidemic
Federal Data Shows Opioid Shipments Ballooned as Crisis Grew
Newly released federal data shows how drugmakers and distributors increased shipments of opioid painkillers across the U.S. as the nation’s addiction crisis accelerated from 2006 to 2012. The data, released this week by a federal court in Ohio as part of a far-reaching opioids case, shows that companies distributed 8.4 billion hydrocodone and oxycodone pills… Continue reading Federal Data Shows Opioid Shipments Ballooned as Crisis Grew
Drugmaker Agrees to Pay $1.4B in Largest Opioid Settlement in US History
A drug manufacturer will pay the U.S. government $1.4 billion to settle allegations that its marketing downplayed the addiction risks of its drugs, the largest settlement yet related to the opioid crisis. Reckitt Benckiser Group, the manufacturer of Suboxone, a treatment for opioid addiction, agreed to the settlement to end criminal and civil probes into… Continue reading Drugmaker Agrees to Pay $1.4B in Largest Opioid Settlement in US History
Johnson & Johnson to Face Multi-Billion Dollar Lawsuit Over Opioids Crisis
The pharmaceutical company Johnson & Johnson has a legal case to answer over accusations it drove the US opioid epidemic now claiming 130 lives a day, an Oklahoma judge has ruled. After a fiery hearing on Monday, with accusations of lying, Judge Thad Balkman dismissed a motion by the company to toss out a multi-billion… Continue reading Johnson & Johnson to Face Multi-Billion Dollar Lawsuit Over Opioids Crisis
Abating Oklahoma’s Opioid Epidemic is Projected to Cost More than $17.5B
The state of Oklahoma unveiled a 30-year plan to abate Oklahoma’s opioid epidemic Friday that would carry a hefty price tag of more than $17.5 billion. The detailed abatement plan was slowly revealed Friday during Day 19 of testimony in a trial in Cleveland County District Court where Oklahoma Attorney General Mike Hunter has accused… Continue reading Abating Oklahoma’s Opioid Epidemic is Projected to Cost More than $17.5B
California Sues Opioid Maker Purdue Pharma
California on Monday became the latest state to sue the pharmaceutical company behind the painkiller OxyContin, alleging it falsely promoted the drug as not addictive even as it emerged as one of the most widely abused in the U.S. State Attorney General Xavier Becerra accused Purdue and its former president, Dr. Richard Sackler, of stoking… Continue reading California Sues Opioid Maker Purdue Pharma