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OxyContin drug maker mulls bankruptcy due to my

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OxyContin drug maker mulls bankruptcy due to myriad lawsuits


Business | 207235 hits | Mar 04 11:24 am | Posted by: DrCaleb
17 Comment

OxyContin maker Purdue Pharma LP explores 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 w

Comments

  1. by avatar xerxes
    Mon Mar 04, 2019 11:41 pm
    A good start but most of the Purdue family who runs that corporation need to go to jail for a long time for the suffering they inflicted on society in the name of greed.

  2. by Sunnyways
    Tue Mar 05, 2019 12:05 am
    The Sacklers have finally been named in lawsuits

    https://www.courant.com/politics/hc-pol ... story.html

    Of course, they are unlikely to do serious time behind bars, being seriously rich and all, unlike some of their former customers in the US who can be charged with manslaughter if they share drugs with somebody who dies.

    Meanwhile all those museums, universities and other institutions who took money from the Sacklers are going to have to figure out what to do next.

    https://www.courant.com/politics/hc-pol ... story.html

  3. by avatar Freakinoldguy
    Tue Mar 05, 2019 12:07 am
    I'm going to have to call bullshit on this one. They're not going broke because of lawsuits they're going broke because the Chinese have cornered the market on illegal OxyContin sales.

    They were making a fortune from people selling their product on the black market and now that those people have switched suppliers it's obviously cutting into their bottom line. So it's time to cut their losses and take the money and run.

  4. by avatar xerxes
    Tue Mar 05, 2019 12:09 am
    As long as they go broke I don't really give two squirts of piss how it happens.

  5. by avatar BartSimpson  Gold Member
    Tue Mar 05, 2019 12:22 am
    "xerxes" said
    A good start but most of the Purdue family who runs that corporation need to go to jail for a long time for the suffering they inflicted on society in the name of greed.


    You know what? I totally agree with you.

    https://www.nytimes.com/2018/05/29/heal ... ontin.html

    Purdue Pharma, the company that planted the seeds of the opioid epidemic through its aggressive marketing of OxyContin, has long claimed it was unaware of the powerful opioid painkiller’s growing abuse until years after it went on the market.

    But a copy of a confidential Justice Department report shows that federal prosecutors investigating the company found that Purdue Pharma knew about “significant” abuse of OxyContin in the first years after the drug’s introduction in 1996 and concealed that information.

    Company officials had received reports that the pills were being crushed and snorted; stolen from pharmacies; and that some doctors were being charged with selling prescriptions, according to dozens of previously undisclosed documents that offer a detailed look inside Purdue Pharma. But the drug maker continued “in the face of this knowledge” to market OxyContin as less prone to abuse and addiction than other prescription opioids, prosecutors wrote in 2006.

  6. by avatar BRAH
    Tue Mar 05, 2019 12:44 am
    Doctors who knowingly over prescribed OxyContin should be held accountable too.

  7. by avatar fifeboy
    Tue Mar 05, 2019 12:59 am
    "BRAH" said
    Doctors who knowingly over prescribed OxyContin should be held accountable too.

    Good grief, whoda thunk it, we agree.

  8. by avatar Strutz
    Tue Mar 05, 2019 1:45 am
    Good.

    I doubt there are many of us who don't know someone personally that has been affected directly by this highly addictive, destructive drug.

  9. by avatar Freakinoldguy
    Tue Mar 05, 2019 3:53 am
    "BRAH" said
    Doctors who knowingly over prescribed OxyContin should be held accountable too.


    R=UP



    Given the plethora of media and medical information that's come out in the past 10 years about the joys of oxy there's no more excuses about not knowing about the dangers of over prescribing this drug. And yet they're still doing it. :twisted:

  10. by Sunnyways
    Tue Mar 05, 2019 5:09 pm
    "BRAH" said
    Doctors who knowingly over prescribed OxyContin should be held accountable too.


    Don’t get me started. A tiny minority have been held to account so far. You have to do something truly outrageous to come to the attention of the police and even then it takes years:

    https://www.cbc.ca/news/canada/newfound ... e-1.949302


    Here’s the lad who took over Buckingham’s practice. I wish I was making this up:

    https://www.cbc.ca/news/canada/newfound ... -1.3783772


    And, dear reader, if your head hasn’t exploded yet, see what he is up to now:

    https://www.cbc.ca/news/canada/newfound ... -1.4425116

  11. by avatar llama66
    Tue Mar 05, 2019 5:24 pm
    "Sunnyways" said
    Doctors who knowingly over prescribed OxyContin should be held accountable too.


    Don’t get me started. A tiny minority have been held to account so far. You have to do something truly outrageous to come to the attention of the police and even then it takes years:

    https://www.cbc.ca/news/canada/newfound ... e-1.949302


    Here’s the lad who took over Buckingham’s practice. I wish I was making this up:

    https://www.cbc.ca/news/canada/newfound ... -1.3783772


    And, dear reader, if your head hasn’t exploded yet, see what he is up to now:

    https://www.cbc.ca/news/canada/newfound ... -1.4425116
    Because fuck the Hippocratic Oath.

  12. by avatar xerxes
    Tue Mar 26, 2019 10:41 pm
    And here's the expected result: a slap on the wrist.

    Sackler-owned Purdue Pharma settles opioid lawsuit for $270m

    Purdue Pharma, the drug-maker owned by the billionaire Sackler family, has reached a $270m settlement in a lawsuit which claimed its opioids contributed to the deaths of thousands of people.

    As part of the deal, the US firm will fund a new centre to study addiction.

    Purdue is one of several firms named in the claim which alleged they used deceptive practices to sell opioids.

    The deal is the first Purdue has struck amid some 2,000 other lawsuits linked to its painkiller OxyContin.

    The lawsuit filed by Oklahoma claimed that in order to persuade doctors to prescribe their painkillers, Purdue, and other companies such as Johnson & Johnson and Teva Pharmaceutical, allegedly decided to "falsely downplay the risk of opioid addiction" and "overstate" the benefits of their drugs to treat a wide range of conditions.

    The companies deny the claims....



  13. by avatar BartSimpson  Gold Member
    Tue Mar 26, 2019 10:53 pm
    $270m is a pittance.

  14. by avatar raydan
    Tue Mar 26, 2019 10:58 pm
    The deal is the first Purdue has struck amid some 2,000 other lawsuits linked to its painkiller OxyContin.


    From what I understand, there are still some 1999 lawsuits to go.



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