The filing will allow it to resolve litigation claims in an “equitable manner”, the company said, adding it has received a commitment for $3.45 billion from some lenders, which will provide liquidity during the bankruptcy process.
Tag Archive for: opioid crisis
The U.S. Department of Justice asked the U.S. Supreme Court to stop Purdue Pharma from proceeding with a bankruptcy settlement that protects its Sackler family owners from lawsuits.
Bankrupt OxyContin maker Purdue Pharma can shield its owners, members of the wealthy Sackler family, from opioid lawsuits in exchange for a $6 billion contribution to the company’s broader bankruptcy settlement, a U.S. appeals court ruled on Tuesday.
The U.S. government on Thursday filed a civil lawsuit accusing the drug distributor AmerisourceBergen Corp. of contributing to the deadly U.S. opioid epidemic by repeatedly failing to report suspicious orders of prescription painkillers.
Contract drugmaker Emergent Biosolutions said on Tuesday its over-the-counter nasal spray as a treatment for suspected opioid overdose would be reviewed on a priority basis by the U.S. health regulator.
CVS said it had agreed to pay about $5 billion over 10 years, and Walgreens said that it had agreed to pay about $5.7 billion over 15 years. Neither company admitted wrongdoing. Walmart has agreed to pay $3.1 billion, mostly up front, according to two people familiar with the matter.
Leading consulting firm McKinsey & Co. has agreed to settle claims by hundreds of U.S. local governments and school districts around the country that it fueled an epidemic of opioid addiction through its work for bankrupt OxyContin maker Purdue Pharma LP and other drug companies.
Walmart Inc. (WMT.N) has agreed to pay $215 million to resolve claims its pharmacies fueled an epidemic of opioid addiction in Florida, the state’s attorney general announced on Thursday.
The state of New Mexico on Tuesday urged a judge to hold Walgreens Boots Alliance Inc. (WBA.O) responsible for fueling the opioid crisis in the state, delivering a closing argument in the latest of several trials around the country against the pharmacy chain.
The committee will reveal in a Wednesday report that after adapting a method used by CDC scientists and adjusting for inflation, it found that the crisis cost the U.S. economy $1.47 trillion in 2020, a $487 billion increase from 2019.
