Exclusive: OxyContin maker Purdue Pharma exploring bankruptcy -sources

[Yo_Mama_Been_Loggin]

(Reuters) - OxyContin maker Purdue Pharma LP is exploring filing for bankruptcy to address potentially significant liabilities from roughly 2,000 lawsuits alleging the drugmaker contributed to the deadly opioid crisis sweeping the United States, people familiar with the matter said on Monday.

The potential move shows how Purdue and its wealthy owners, the Sackler family, are under pressure to respond to mounting litigation accusing the company of misleading doctors and patients about risks associated with prolonged use of its prescription opioids.

Purdue denies the allegations, arguing that the U.S. Food and Drug Administration-approved labels for its opioids carried warnings about the risk of abuse and misuse associated with the pain treatments.

Filing for Chapter 11 protection would halt the lawsuits and allow Purdue to negotiate legal claims with plaintiffs under the supervision of a U.S. bankruptcy judge, the sources said.

https://www.reuters.com/article/uk-purduepharma-bankruptcy-exclusive/exclusive-oxycontin-maker-purdue-pharma-exploring-bankruptcy-sources-idUSKCN1QL1KP

[riverine]

1. Next up - Alcoholics join in for class action suit vs Constellation Brands

I know it is fashionable to hate on Big Pharma but this is important:

the U.S. Food and Drug Administration-approved labels for its opioids carried warnings about the risk of abuse and misuse associated with the pain treatments

[Yo_Mama_Been_Loggin]

2. Doctors don't generally prescribe alcohol

OxyContin on the other hand has been over prescribed.

[riverine]

3. Sue the doctors then.

They were operating pill mills with the help of distributors.

Years ago I had a severe case of peritonitis after surgery and was prescribed morphine. It was fantastic. But the doctor cut me off as soon as I was well.

[Yo_Mama_Been_Loggin]

5. It's largely been proven that OxyContin

was marketed as less addictive by Purdue.

That's where the liability comes in.

Morphine on the other hand is most definitely addictive. I don't think opiate addiction is something you want to deal with.

[riverine]

6. Thanks for posting this.

It is a very interesting case study when delved into.

Is Purdue culpable?

Certainly they are.

But there is a whole lot of blame to go around as well as other factors such as:

1-The drug is effective.

2-The FDA approved it.

3-Patients wanted it.

4- Docs made huge bank on it.

But I am extremely liberal on all such issues. I think recreational drugs should be legal.

[malaise]

4. Good

May they all die in poverty

[JustABozoOnThisBus]

7. No, bankruptcy allows them to die in luxury.

Like the GM bankruptcy, or the Pacific Gas and Electric plan for bankruptcy, this bankruptcy allows a company to shed all debt, all liabilities, all lawsuit judgements, while keeping the money.

Nobody, at least none of the corporate execs, dies in poverty. Poverty is for their poor suckers, er, patients, who get hooked.

These people will brag about this bankruptcy the way Trump brags about his. He went bankrupt so many times because he was smart.

Dying in poverty would be too good for these predators.

:hi

[malaise]

8. Then I hope they get hooked on their own

killer drug.