Facing thousands of lawsuits related to Johnson & Johnson’s talc-based products, the life sciences giant is launching a separate subsidiary dubbed LTL Management LLC that will take the brunt of potential legal liabilities.
Purdue Pharma LP said on Tuesday that creditors voted in favor of the company’s reorganization plan that would provide billions of dollars to the governments that sued the OxyContin maker for its role in the U.S. opioid crisis.
Purdue Pharma LP pleaded guilty to criminal charges over the handling of the company’s addictive prescription painkiller OxyContin, capping a deal with federal prosecutors to resolve an investigation into the drugmaker’s role in the U.S. opioid crisis.
The first of the Insys Therapeutics executives found guilty of violating the Racketeer Influenced and Corrupt Organizations (RICO) Act in May 2019 was sentenced to 33 months in federal prison.
A federal judge partially overturned the convictions of Insys Therapeutics Inc.’s founder and three former executives accused of bribing doctors to prescribe an addictive opioid, but declined to disturb the remainder of the jury’s verdict.
For Halloween, BioSpace collected six tales of thrills and chills from the pharma and biotech industries that will surely have you covering your eyes in terror.
Purdue Pharma filed for Chapter 11 bankruptcy and agreed to pay between $10 and $12 billion to settle the drug manufacturer’s involvement in the health-care crisis.
Mallinckrodt Plc hired restructuring firms and may choose to seek bankruptcy protection, Bloomberg reported, sending the drugmaker’s shares down 40 percent.
Less than a month after filing for bankruptcy, Insys Therapeutics gained a reprieve from some lawsuits as well as a path forward for regulatory approval of an opioid overdose treatment.
Days after agreeing to pay nearly $225 million in additional fines to the U.S. government for fraudulent marketing schemes to boost sales of the opioid Subsys, Insys Therapeutics filed for bankruptcy.