15 states agree to bankruptcy deal, Purdue to release documents
Troubled drugmaker Purdue Pharma has stepped a little closer to emerging from bankruptcy, after securing the backing of 15 states for a settlement related to claims arising from the ongoing opioid crisis.
Purdue, developer of opioid-based analgesic Oxycontin (oxycodone), was forced to enter bankruptcy in 2019 as multiple jurisdictions in the USA filed suits seeking damages to help cover the cost of treating opioid addiction.
The company has been blamed for widening the use of opioids, through marketing practices which downplayed the risks of addiction.
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