OxyContin Maker Files for Bankruptcy

OxyContin bottles

Purdue Pharma, the company that makes the opioid painkiller OxyContin, has filed for bankruptcy, CNN reports.

The filing is part of the company’s plan to settle litigation involving more than 2,000 cases brought by states, counties, municipalities and Native American governments. The plaintiffs in those cases say Purdue Pharma fueled the opioid epidemic. Under the settlement, the company will provide more than $10 billion in funding to address the opioid crisis.

Purdue also plans to create a company called NewCo, which will produce medicines to reverse overdoses, and will continue to develop an over-the-counter version of naloxone at little to no cost to communities across the country, according to a company statement.

Last week, New York Attorney General Letitia James said authorities had discovered the Sackler family, which owns Purdue Pharma, had wired about $1 billion from the company to itself, suggesting the family tried to shield its wealth in the wake of litigation.

Heroin & the Opioid Epidemic: From Understanding to Action

Heroin and other opioids are ravaging communities across America. Heroin-related deaths increased by more than five times between 2010 and 2017, and drug deaths from fentanyl and other synthetic opioids are seeing a sharp rise as well.

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    Debbie Ligo

    September 19, 2019 at 6:34 PM

    How can we get this information to the Judicial System?? They are making it almost impossible for my Son to move forward, now that he has been clean for over a year!! The fines & punishment is repulsive!! I can honestly see as his Mom that they have set him up for failure . We are totally out of $$$ as well. Why can’t they see these people need help?

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