By: Shannon Persad
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Company Accused of Fueling Opioid Crisis Files for Bankruptcy
In recent events surrounding the opioid crisis, Purdue Pharma files for Chapter 11 bankruptcy. Purdue Pharma is known for creating the infamous opioid prescription medication, OxyContin.
For years, Purdue Pharma has been fighting lawsuits from many states, totaling 2,600 different cases. As a result, the company has filed for bankruptcy, halting any types of litigation against them. Every year, Purdue Pharma would spend 250 million in lawyer fees, fighting lawsuits, which lead to filing bankruptcy.
Despite Purdue Pharma filing bankruptcy, many states are not settling and will still pursue litigation against the pharmaceutical giant, as they believe they have fueled the opioid epidemic.
Did Purdue Pharma Fuel the Opioid Epidemic?
Because Purdue Pharma has filed bankruptcy, some people see this as an easy way out for the billion-dollar giant, that has been accused of fueling the opioid crisis.
According to the National Insitute on Drug Abuse (NIDA), the opioid overdose crisis began because pharmaceutical companies marketed their products as non-addictive in the late 90s, when they did know of the harmful effects. Coincidentally in 1996, Purdue Pharma created OxyContin, stating it is not addictive and urged doctors to prescribe the drug. This lead to an increase in opioid addiction and overdoses.
Even though the prescription rate for opioid medications have gone down, overdoses continue to rise, as people turn to deadly alternatives, such as heroin and fentanyl.
Even though Purdue Pharma has filed for bankruptcy, the company will still operate normally, by paying its employees and distributing medications. Despite the allegations against Purdue Pharma and settling cases, the company will continue to sell OxyContin.
It’s not the first time we’ve heard pharmaceutical companies or manufacturers in the news, as Johnson & Johnson was also accused of fueling the opioid crisis.
It seems to be the beginning of states and entities going after these companies to find justice for the damage opioid prescriptions have done.