Opioid Rx The lawsuits against drugmakers and distributors have opened up the potential for billions of dollars in liabilities as governments grapple with mounting human and financial costs of the opioid epidemic. (Photo: Shutterstock)

Oxycontin-maker Purdue Pharma LP is preparing for a possible bankruptcy filing as it faces hundreds of lawsuits over its role in the U.S. opioid epidemic, Reuters and the Wall Street Journal reported Monday.

The drugmaker has hired advisers to prepare for a potential filing, the Journal said, citing people familiar with the matter. Bankruptcy would let the company negotiate claims with some of the more than 1,500 cities, states, local governments and other entities that have sued Purdue and other health companies over their roles in the opioid epidemic.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.