Purdue Pharma Considers Bankruptcy

Facing numerous lawsuits over its role in the U.S. opioid crisis, Purdue Pharma is considering filing for bankruptcy, USA Today reports. As the first trial date is nearing in hundreds of lawsuits aiming to hold the company accountable for its role in the nationwide crisis, bankruptcy proceedings would likely pause litigation. A federal bankruptcy judge would have wide discretion on how to proceed with the claims against the company and other drugmakers and distributers. Hundreds of claims from local and state governments that have sued the company could be impacted. While Purdue's role is just one aspect of the litigation, critics assign a lot of blame to the company because it developed OxyContin and pursued an aggressive marketing strategy for the drug. 

 
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