Opioid Crisis: The OxyContin Maker Files For Bankruptcy

As part of a settlement over its role in the opioid crisis, Purdue Pharma, manufacturer of OxyContin, have filed for bankruptcy. Its estimated that the pharmaceutical is facing over 26,000 state and federal lawsuits.

Most of the suitors against Purdue Pharma are pleading that OxyContin was promoted as a drug with low addiction risks, though they allegedly knew this wasn’t true, the lawsuits read. The company has repeatedly denied allegations of false marketing.

According to NYT, from the thousands of cases against the company, twenty-four states and five U.S. territories have accepted the agreement. The settlement would require the Sackler’s to give up Purdue Pharma, as well as give $3 billion to plaintiffs over seven years. However twenty-six states are still refusing. These states are going after the Sackler’s, owners of the pharmaceutical, accusing the family of saving its wealth because of growing lawsuits against them.

AP cite: “Purdue’s drugs are just a slice of the opioids prescribed, but critics assign a lot of the blame to the company because it developed both the drug and an aggressive marketing strategy.

Along with others in the industry, Purdue paid doctors who attested to the drug’s safety and became a major funder of groups that advocated for pain patients and campaigned to have opioids prescribed.

The Associated Press and the Center for Public Integrity found the industry and groups it funded were also politically active, spending more than $880 million nationally on lobbying and campaigns from 2006 through 2015. That spending helped the industry fight off restrictions on prescribing the powerful painkillers.” Read the full AP Report .

“Opioid Epidemic”by DES Daughter is licensed under CC BY-NC-SA 2.0

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