The Sackler family owners of Purdue Pharma LP reached a deal with nine state attorneys general to pay up to $6 billion in cash to resolve widespread litigation alleging that they fueled the U.S. opioid epidemic, bringing the OxyContin maker closer to exiting bankruptcy.
A mediator in Purdue Pharma’s bankruptcy case on March 2 indicated an agreement was being drafted between the company’s owners and U.S. states pressing for more money to resolve allegations that the OxyContin maker fueled the opioid epidemic.
Mallinckrodt filed for bankruptcy protection, saddled with lawsuits alleging the company helped fuel the U.S. opioid epidemic.
Two years after Germany’s Fresenius Medical Care walked away from a 2017 $4.3 billion deal to acquire Akorn Pharmaceuticals, the Illinois-based company filed for protection under U.S. bankruptcy laws in an attempt to restructure for a potential sale.
Mallinckrodt announced a $1.6 billion opioid settlement that will put the company’s generics business into bankruptcy.
Copenhagen-based Zealand Pharma announced a bid to buy substantially all the assets from New Jersey-based Valeritas in $23 million in cash and taking on certain liabilities.
N.Y.-based NPXe filed a voluntary petition to reorganize under Chapter 11 of the Bankruptcy Code and is seeking permission to auction off the company’s assets.
Melinta Therapeutics filed for bankruptcy protection, becoming the latest casualty of a persistent cash burn in the antibiotic industry.
The chief executive officer of OxyContin-maker Purdue Pharma LP should not collect a potential $1.3 million bonus when he has been accused of contributing to the opioid epidemic, a group of state attorneys general said in a court filing.
Purdue Pharma LP will ask a U.S. Bankruptcy Judge to pause litigation against the company and ownership over the objections of U.S. states that allege the OxyContin maker is trying to protect the controlling Sackler family.