General World News

Purdue Pharma to Stay in Business as Bankruptcy Unfolds

Attorney Joe Rice, who represents a group of plaintiffs in the Purdue Pharma bankruptcy, speak to reporters in White Plains, N.Y., Sept. 17, 2019.

A judge cleared the way Tuesday for OxyContin maker Purdue Pharma to stay in business while it pursues bankruptcy protection and settlement of more than 2,600 lawsuits filed against it in a reckoning over the opioid crisis.

At the first court hearing since the Chapter 11 filing late Sunday, Purdue lawyers secured permission for the multibillion-dollar company based in Stamford, Connecticut, to maintain business as usual — paying employees and vendors, supplying pills to distributors, and keeping current on taxes and insurance.

The continued viability of Purdue is a key component of the company’s settlement offer, which could be worth up to read more >>>

Source:: VOANews.Com