US Opioid Crisis: Pharmaceutical Promises to Pay $ 10 Billion in Claims Bankruptcy

The pharmaceutical company Purdue Pharma, to which thousands of lawsuits have been filed due to the opioid crisis in the United States, has begun bankruptcy proceedings.

Фото: Depositphotos

Pharmaceutical company Purdue Pharma, which is considered one of the culprits of the opioid crisis in the United States, filed bankruptcy lawsuits, reports Medusa with reference to the Associated Press.

Bankruptcy proceedings were one of the conditions for a pre-trial agreement on claims for the sale of opioid analgesics Purdue Pharma. The company was accused of exaggerating the effectiveness of drugs and downplaying the risk of dependence on them.

About 2600 lawsuits have been filed against Purdue Pharma. Most of them were resolved through a pre-trial agreement. According to its terms, the Sackler family - the owners of Purdue Pharma - should pay about three billion dollars to victims of the opioid crisis.

On the subject: What Americans Die From: Xnumx The Most Dangerous Addictions

Sacklers will also lose control of Purdue Pharma. The company will be restructured, after which it will continue to produce drugs, and the money from their sale will come to victims of the opioid crisis. According to Purdue Pharma, the total amount of payments under the pre-trial agreement will be about 10 billions of dollars.

Purdue Pharma is a manufacturer of oxycontin, one of the best-known US opioid analgesics. Oxycontin began to be released in 1996, later it turned out that it causes a strong addiction.

In addition to Purdue Pharma, lawsuits related to the sale of opioid analgesics were filed with other large pharmaceutical companies.

As ForumDaily wrote earlier:

• Court documents claim that Purdue Pharma's sales practices were misleading and at least partially responsible for the opioid crisis that claimed more than 400 000 lives from 1999 to 2017 year, according to the Centers for Disease Control and Prevention. Some lawsuits also alleged that after the 2007 year, the Sackler family used the company to enrich themselves. On August 20, drug manufacturers at a meeting with prosecutors and lawyers argued that ready to pay 10 – 12 billion dollars to settle more than 2 thousands of lawsuits.
• On August 27, it was reported that the Oklahoma state court ordered Johnson & Johnson pay xnumx million dollars in the case of the opioid crisis in the United States. For Johnson & Johnson, this is not the largest lawsuit. Since 2013, lawsuits have been massively submitted to American courts because of her baby powder. The plaintiffs allege that talc, the main component of the powder, contained impurities of asbestos hazardous to health and caused them cancer.
• In May 2019, the pharmaceutical company Teva Pharmaceutical Industries Ltd. agreed to pay 85 million dollars to settle a lawsuit filed by the state of Oklahoma, which claims that its painkillers contributed to the state's opioid crisis and led to the deaths of thousands of residents due to abuse of such drugs. Company representatives emphasized that the Oklahoma agreement with Teva is not an official confirmation of any violations by the company.

Read also on ForumDaily:

US opioid crisis: pharmaceutical company ready to pay $ 10-12 billion to settle claims

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What Americans Die From: Xnumx The Most Dangerous Addictions

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