The Sackler family will pay up to $6 billion to address damage linked to the US opioid crisis under an amended Purdue Pharma bankruptcy plan following an agreement with holdout states, according to a court filing Thursday.
Mar 3, 2022
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Medical problems contributed to 66.5% of all bankruptcies, a figure that is virtually unchanged since before the passage of the Affordable Care Act (ACA), according to a study published yesterday as an editorial in the American ...
Feb 7, 2019
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The owners of Purdue Pharma, maker of OxyContin, have offered to pay up to $6 billion to victims of the US opioid crisis to settle an avalanche of litigation, according to a report filed Friday by a federal mediator.
Feb 20, 2022
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Burdensomely high medical costs are often blamed for pushing many Americans into bankruptcy. According to the Consumer Financial Protection Bureau some 43 million Americans have unpaid medical debt on their credit reports.
Jan 28, 2015
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A team of researchers led by an MIT economist has found that medical expenses account for roughly 4 percent of bankruptcy filings among nonelderly adults in the U.S.
Mar 21, 2018
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This year, about $1.5 billion has landed in state and local government coffers from court settlements made with more than a dozen companies that manufactured, sold, or distributed prescription painkillers and were sued for ...
Dec 30, 2023
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An offer from OxyContin maker Purdue Pharma and the Sackler family to settle some 2,000 lawsuits over their contribution to the national opioid crisis is receiving growing pushback from state and local officials who say the ...
Aug 31, 2019
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US pharmaceutical giant Johnson & Johnson on Tuesday proposed an $8.9 billion settlement to resolve years-old lawsuits claiming that its talcum powder products caused cancer.
Apr 5, 2023
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An analysis linking federal bankruptcy court records to cancer registry data from nearly 232,000 adult cancer cases in western Washington during a 14-year period has found a hidden cost to survival: Insolvency rates increase ...
Jun 7, 2011
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The founder of the French firm that made breast implants feared to be at risk of rupturing has admitted using non-approved but non-toxic silicone gels, his lawyer said Tuesday.
Dec 27, 2011
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Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed or initiate a restructuring. In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the insolvent individual or organization).
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