Purdue Pharma spends $134M on lawyers during first 9 months of bankruptcy

Purdue Pharma has spent $134 million on lawyers and advisers helping to address its role in the opioid crisis, according to The Wall Street Journal.

The drugmaker filed for bankruptcy in September 2019 to resolve thousands of lawsuits accusing it of fueling the opioid crisis, primarily by flooding communities with its highly addictive narcotic OxyContin. So far, Purdue's abundant legal spending has not lessened its litigation burden, as state officials and local authorities have rejected the drugmaker's settlement offers.

Purdue is owned by the Sackler family, who is also being sued for allegedly fueling the opioid crisis. They have offered a settlement of $3 billion and other concessions to the families of opioid victims. 

"Every day and every dollar spent in bankruptcy represents time and money not being used to ameliorate the opioid crisis. That's why we are moving as quickly as possible to deliver a settlement," Michele Sharp, a Purdue spokesperson, told The Wall Street Journal.

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars