One Of America's Largest OxyContin Produces Prepares For Bankruptcy
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One Of America’s Largest OxyContin Produces Prepares For Bankruptcy
As of today, Purdue Pharma, one of America’s largest painkiller producers, is planning to file a chapter 11 bankruptcy. Purdue Pharma is facing over 1,000 lawsuits from both state and federal governments. As we all know, OxyContin has been attributed with America’s largest addiction problem. Not only is OxyContin easily accessible, it’s also totally legal and prescribed by just about every single primary care physician. As a result, more lawsuits than you could even imagine have been filed, with reasoning being that Purdue Pharma has intentionally found ways to make OxyContin even more addictive. As a result, the company doesn’t have enough money to keep itself a float, let alone settle even half of the 1,000+ law suits.
What Is Purdue Pharma’s Next Steps Moving Forward?
In all brutal honesty, there isn’t really anything other than a Chapter 11 Bankruptcy to Liquidation that can allow Purdue Pharma to get itself out of this mess, however that also means the entire company dissolving. Is that such a bad thing? Well if I can be perfectly honest, it won’t really effect much of anything. Other large Pharma companies will simply supply the extra demand that would usually be supplied by Purdue Pharma. While others may consider Purdue Pharma filing for bankruptcy as a win, it truly will have no impact on the addiction problem in America.
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