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Bankruptcy
This page shows the latest Bankruptcy news and features for those working in and with pharma, biotech and healthcare.
US bankruptcy judge approves Purdue Pharma’s $6bn opioid settlement plan
In a recent hearing, US bankruptcy Judge Robert Drain in White Plains, New York, approved Purdue Pharma’s $6bn settlement plan. ... In 2019, Purdue filed for bankruptcy following a growing number of lawsuits alleging misleading marketing of Oxycontin,
Latest news
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Purdue to pay over $8bn to settle opioid-related criminal claims
Purdue is expected to pay $225m of the $2bn forfeiture on the effective date of the company’s bankruptcy, which it filed for last year. ... As part of the bankruptcy agreement, a new company is set to be formed which will be governed by a new board
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Mallinckrodt files for bankruptcy protection in the US
The bankruptcy filing will reduce Mallinckrodt’s debt by approximately $1.3bn and resolve the opioid-related claims against the company. ... Another opioid drugmaker – Purdue Pharma – filed for bankruptcy last year following increasing blame for
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US states claim Purdue Pharma owes $2.2 trillion over opioid crisis
Last year, Purdue filed for bankruptcy following increasing blame for its part in driving the opioid epidemic in the US. ... As part of of the initial bankruptcy filing, the Sackler family said they will give up 100% of Purdue and will also contribute a
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IFPMA launches AMR Action Fund to tackle antimicrobial resistance
with new antibiotic candidates and research, but had to file for bankruptcy earlier this year.
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Mallinckrodt reaches tentative $1.6bn opioid settlement
Mallinckrodt’s speciality US generics business – which includes its opioid drug franchise – will file for chapter 11 bankruptcy protection as part of the wide-scale agreement. ... Privately-owned pharma company Purdue Pharma, which manufactured
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Rethinking our approach to infectious disease preparedness
Achaogen and Aradigm filed for bankruptcy in 2019, and Melinta did the same at the start of 2020, despite heavy investment from the US Biomedical Advanced Research and Development Authority (BARDA).
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Tackling antimicrobial resistance on multiple fronts
big pharma continues to disinvest from this space and there have been high profile bankruptcies of biotechs.
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The transatlantic opioid crisis
Bankruptcy protection effectively prevents further litigation, in the same way companies that are in compulsory liquidation in the UK cannot face claims without permission from the High Court.
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Tightening medical device safety
This mechanism should allow patients to be rapidly and adequately compensated, and also in the event of bankruptcy of the manufacturer.
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Deal Watch January 2017
Dendreon had only been acquired in February 2015 from bankruptcy for $495m (reported in DW issue no 56).
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KV Pharmaceutical names Joseph Mahady as chair
Mahady joins women's healthcare specialist KV just one month after the company announced it had emerged from bankruptcy.
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Article: The Colombia Conundrum
As the number of lawsuits increased exponentially in the following years, the healthcare system was plunged into crisis and the majority of healthcare providers found themselves on the brink of bankruptcy,
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Exploring MINT: Part 3 - Nigeria
Due to the more extreme deficit of adequate medical facilities in Nigeria, some commentators also identify ‘medical refugees’, those pushed to the brink of bankruptcy by travelling abroad to obtain better
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