Tens of billions of dollars, the US pharmaceutical group Purdue wanted as a settlement amount for the settlement of thousands of lawsuits pay. Many US States have refused. Now the pharmaceutical company has applied for insolvency proceedings.
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OxyContin manufacturer Purdue files for bankruptcy
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OxyContin manufacturer Purdue files for bankruptcy
In the centre of the Opioid crisis in the United States-standing pharmaceutical company Purdue Pharma has applied for creditor protection. The Board of Directors of the company has directed the already long-awaited step in the way. The bankruptcy court in White Plains in the U.S. state of New York, Purdue filed a petition for creditor protection under Chapter 11. Thus, the company would be granted protection from creditors, to establish a new order. With 24 States, five U.S. territories, and the senior lawyers of more than 2000 cities, counties and other plaintiffs Purdue also scored a preliminary agreement for the settlement of legal disputes arising in connection with the Opioid crisis, as the group announced.
That’s the point: The US pharmaceutical group Purdue has concealed the dangers of its product, Oxycontin
In the United States, nearly 400,000 people had used the painkiller Oxycontin, have become according to the authorities, between 1999 and 2017, addictive and at the consequences died. Purdue faces more than 2,000 lawsuits from cities, counties and States faced with the accuse the company to have the Opioid crisis in the US fueled. The Oxycontin manufacturers and other companies should have played down in aggressive marketing campaigns on the risks of addictive painkillers for longer use. Purdue and the owner family of the Sackler, which has accumulated over the years an estimated fortune of 13 billion US Dollar, back from the wise.
Purdue Pharma pressure
Comparison with Purdue two dozen States are blocking. Including Massachusetts, New York and Connecticut, the expected of the owner family, Sackler more money. Also, make the calculations from Purdue in question, see a comparison in the case of more than ten billion dollars. The Sacklers, which would make a comparison of the control of Purdue in the USA, have made a further three billion dollars in cash and an additional $ 1.5 billion or more by the possible sale of your company, Mundi Pharma in view. You should not be willing to revise your offer. Members of the Sackler family said they hoped that the opponents of the current comparison offer would change your mind. Otherwise, the lengthy litigation and rising legal costs would result.
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The plaintiff States in front to throw the Sacklers, the family have amassed billions of dollars through the sales of Opioid painkillers, despite knowledge of their harmful effects. The New York attorney General, Letitia James, had declared on Friday in addition, members of the family had tried to disguise the amount of their assets. Funds from Purdue had been moved through accounts around the world. James, there are Transfers of alone, around a billion dollars between the Sacklers, the controlled companies and various financial institutions, including those that would have funneled funds to Swiss Bank accounts. A spokesman for the former Purdue Board member Mortimer Sackler rejected the allegations and explained, the transactions were completely legal.
nob/rb (rtr, dpa)