Although the U.S. Bankruptcy Court approved the OxyContin maker’s reorganization plan that freed the Sacklers from greater financial accountability and shielded them from additional lawsuits, the Department of Justice moved to block the Purdue Pharma bankruptcy deal.
U.S. states are racing to meet a deadline to commit to a $26 billion opioid settlement with three drug distributors and the drugmaker Johnson & Johnson, as some grapple with local resistance and concerns the amount is not large enough to address the damage done by an epidemic of addiction.
McKesson Corp. said the company and two other major U.S. drug distributors could be expected to pay up to $21 billion under a new proposal by state attorneys general to resolve lawsuits alleging they helped fuel the U.S. opioid crisis.
The U.S. Justice Department charged Teva Pharmaceutical Industries Ltd. with conspiring with competitors to raise prices for generic drugs.
Four large drug companies reached a last-minute $260 million legal settlement over their role in the U.S. opioid addiction epidemic, averting the first federal trial that was scheduled to start in Cleveland.
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.
The FDA approved San Diego-based Retrophin Inc.’s 100 mg and 300 mg tablets of Thiola EC (tiopronin) to treat cystinuria.
JPMorgan Chase & Co. cut ties with Purdue Pharma LP over the OxyContin maker’s alleged role in the U.S. opioid crisis, forcing the company to find a new bank to manage cash and bill payments, people familiar with the matter said.
New Zealand medical device maker Fisher & Paykel Healthcare Corp. Ltd. and U.S. rival ResMed Inc. agreed to settle patent infringement disputes, ending a three-year tussle that spanned the globe and cost each side millions of dollars in legal fees.
Edwards Lifesciences Corp. paid rival Boston Scientific Corp. $180 million as part of a settlement to end long-standing patent disputes between the two medical device makers.