Purdue Pharma Group declares bankruptcy in an attempt to deal with the opiate crisis

The World with AFP Posted today at 08:31, updated at 08:40

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The US pharmaceutical group Purdue Pharma announced on Sunday, September 15, that it was going to declare bankruptcy in the context of an amicable agreement, hoping to draw ten billion dollars to deal with thousands of complaints related to the crisis opiates. Purdue President Steve Miller said in a statement that the agreement "Provide billions of dollars and vital resources to communities across the country that are struggling with the opiate crisis".

Under this agreement, however, subject to court approval, the entire value of the Purdue Group will be paid to an organization established for the benefit of the plaintiffs and the US population. Purdue Pharma, the manufacturer of one of the leading opioid pain medications, OxyContin, is the subject of more than 2,000 complaints.

47,000 deaths by overdose

The group said it was under the protection of US bankruptcy law – "Chapter 11" – and clarified that the board of directors of a new company would be chosen by the plaintiffs before being approved by the bankruptcy court. Mr. Miller also indicated that this restructuring would avoid "Wasting hundreds of millions of dollars and years in protracted litigation".

As part of the deal, the company could provide millions of drugs needed to treat drug addiction, such as Nalmefene and Naloxone, for free or at low cost.

In addition to abandoning control of Purdue, the wealthy American family Sackler could privately in particular have to contribute up to $ 3 billion.Very influential in the New York gotha, the Sackler have built their fortunes on the OxyContin, this powerful painkiller accused of being at the heart of the opioid crisis causing 47,000 overdose deaths in the United States in 2017.