Category: bankruptcy

  • Purdue and Sackler family increase their opioid settlement offer

    Purdue Pharma and its controlling Sackler family have reach a new settlement to resolve lawsuits over their involvement in the opioid epidemic, raising the payout from the Sacklers to $6 billion. The new deal has been accepted by a group of states and districts who refused to accept the $4.5 settlement deal proffered last year […]

  • Judge rejects Purdue opioid settlement over Sackler family immunity

    A judge in the US has rejected the bankruptcy plan proposed by Purdue Pharma to settle legal action over its role in the opioid crisis, because of the protection from civil litigation it includes for the Sackler family that owns the drugmaker. Judge Colleen McMahon has thrown out the plan in a New York court, […]

  • Mallinckrodt moves closer to resolving its opioid liability hangover

    Mallinckrodt looks like it could join Purdue Pharma in reaching a settlement in its bankruptcy proceedings related to opioid litigation, after years of legal wrangling. The Ireland-headquartered drugmaker filed for bankruptcy last year, after proposing a $1.6 billion payout to settle lawsuits claiming that its marketing of opioid painkillers helped to fuel an epidemic in […]

  • Purdue bankruptcy court hands immunity to Sackler family

    A US federal judge has approved a bankruptcy settlement for Purdue Pharma that grants the Sackler family that owned the business immunity from any further civil lawsuits accusing them of contributing to opioid epidemic – to the consternation of campaigners. The agreement will dissolve the OxyContin (oxycodone) manufacturer – which Judge Robert Drain said was […]

  • Lawsuit: Cerner systems’ failure drove Astria Health into bankruptcy  

    The Washington-based health system has filed a lawsuit against EHR giant Cerner saying it intentionally misrepresented its products and services. Cerner’s systems did not operate as promised, leading to severe cash collection issues at Astria Health and forcing it into bankruptcy in 2019, the suit alleges.

  • Court approves Otsuka’s bid to buy Proteus for $15M

    A bankruptcy court in Delaware approved a stalking-horse bid from Otsuka to acquire Proteus Digital Health for $15 million. The company, which makes sensor that can be embedded in pills to track medication adherence, filed for bankruptcy in June.