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Purdue Pharma, the maker of opioid painkiller OxyContin, files for bankruptcy

Mornings with Simi

English - September 16, 2019 18:25 - 12 minutes - ★★★★★ - 1 rating
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Purdue Pharma, the company that made billions selling the prescription painkiller OxyContin, filed for bankruptcy in White Plains, New York, days after reaching a tentative settlement with many of the state and local governments suing it over the toll of opioids. The filing was anticipated before and after the tentative deal, which could be worth up to US$12 billion over time, was struck.

What does this bankruptcy filing mean for the pending lawsuits against the pharmaceutical company, and what does this mean for the Sackler family, the billionaire family Purdue Pharma?

 

Guest:  Adam Levitin 

Professor specializing in bankruptcy at Georgetown Law

Purdue Pharma, the company that made billions selling the prescription painkiller OxyContin, filed for bankruptcy in White Plains, New York, days after reaching a tentative settlement with many of the state and local governments suing it over the toll of opioids. The filing was anticipated before and after the tentative deal, which could be worth up to US$12 billion over time, was struck.


What does this bankruptcy filing mean for the pending lawsuits against the pharmaceutical company, and what does this mean for the Sackler family, the billionaire family Purdue Pharma?


 


Guest:  Adam Levitin 


Professor specializing in bankruptcy at Georgetown Law