Facing Lawsuits Over Opioid Epidemic, Purdue Pharma Considers Bankruptcy
This message comes from NPR sponsor. Comcast business. Business has always been driven by innovators. That's why Comcast business is helping you with technology that provides better experiences. Comcast business beyond fast lawsuits connected to opioids have been really bad for drug makers and this year alone. There have been a lot of them. So many that one company Purdue pharma, the maker of Oxycontin says it might file for bankruptcy north country. Public radio's Brian man reports in a statement sent to NPR Purdue pharma spokesman Bob Josephson said the company has made no decisions, but is considering all its options, and that includes bankruptcy Richard house. This is a law professor at the university of Kentucky who follows opioid litigation closely. I guess they're serious if you declare bankruptcy. There's an automatic stay all the lawsuits that would be a serious blow to the more than fifteen hundred local and state governments suing big pharma. They argue companies like Purdue triggered the opioid epidemic. By aggressively marketing highly addictive painkillers, they want help paying for things like increased law enforcement and rehab programs Adams Zimmerman and opioid litigation expert at Loyola University says companies like Purdue facing a barrage of civil claims often use bankruptcy to limit their exposure, bankruptcy, starkly, drew nevi. One of the most powerful tools for the Bendon rum as best as companies the night nineties through today. PGA bankruptcy as a way who globally. Resolve large numbers of lawsuit. Purdue is a privately held company internal documents made public in recent months showed the Sackler family which owns a controlling interest pulled roughly four billion dollars out of the company while pushing opioid sales legal experts differ on whether those profits would be affected by produce. Bankruptcy Zimmerman thinks the Sackler private fortune could be vulnerable. The company that declared bankruptcy has the ability to go up there. The other party in order to clawback money that that wrongly taken away from a company that actually happened in in the main bankruptcy, though, that definitely could happen case. Like this to these opioid lawsuits target a wide range of companies, including Purdue, but also name brand companies like CVS, WalMart and Johnson and Johnson. If Purdue does seek bankruptcy protection, the whole, interlocking web of cases becomes much more complicated in trials could be delayed by months or years. Richard house nicotine university of Kentucky says government swing big pharma are already turning their sights on other opioid manufacturers with more assets than Purdue Jonathan Johnson is really getting hammered by the AGA and Oklahoma, and they do have pickpockets and probably wouldn't be candidates for bankruptcy. Well, Purdue pharma weighs its options. The company hoped to delay the first big test trial in Oklahoma state court this week a judge rejected the request, and that's civil. Case we'll go forward as scheduled in may, Brian man, NPR news. This message comes from NPR sponsor Capital One offering a variety of credit card options with features for a range of customers from foodies to travelers Capital One what's in your wallet credit approval required capital. One Bank USA NA.