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Report: Purdue Pharma Considering Bankruptcy

WSHU | By The Associated Press,
Davis Dunavin
Published March 5, 2019 at 9:41 AM EST
The offices of Purdue Pharma, which manufactures the controversial painkiller OxyContin., in Stamford, Conn.
Douglas Healey
/
AP
The offices of Purdue Pharma, which manufactures the controversial painkiller OxyContin., in Stamford, Conn.

A report says Purdue Pharma is preparing a possible bankruptcy filing. The Stamford, Connecticut-based company and other drugmakers face more than 1,000 lawsuits blaming them for the opioid crisis.

The Wall Street Journal cited unnamed sources saying the company, which makes the painkiller Oxycontin, is trying to contain liability from the lawsuits.

The company is also asking a court to throw out a suit filed by Massachusetts' attorney general, alleging the drugmaker told doctors OxyContin had a low addiction risk and pushed prescribers to keep patients on the drug longer.

Purdue Pharma says the lawsuit makes oversimplified claims while attempting to cast the firm as a scapegoat for the opioid crisis.

A spokeswoman for Democratic Attorney General Maura Healey said the state will fight Purdue's bid to throw out the case.

 

Copyright 2019 WSHU
The Associated Press
The Associated Press is one of the largest and most trusted sources of independent newsgathering, supplying a steady stream of news to its members, international subscribers and commercial customers. AP is neither privately owned nor government-funded; instead, it's a not-for-profit news cooperative owned by its American newspaper and broadcast members.
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Davis Dunavin
Davis Dunavin loves telling stories, whether on the radio or around the campfire. He fell in love with sound-rich radio storytelling while working as an assistant reporter at KBIA public radio in Columbia, Missouri. Before coming back to radio, he worked in digital journalism as the editor of Newtown Patch. As a freelance reporter, his work for WSHU aired nationally on NPR. Davis is a proud graduate of the University of Missouri School of Journalism; he started in Missouri and ended up in Connecticut, which, he'd like to point out, is the same geographic trajectory taken by Mark Twain.
See stories by Davis Dunavin

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