Drugmakers latch onto Purdue settlement in opioid lawsuits

As Purdue Pharma files for bankruptcy and prepares to settle a slew of lawsuits for approximately $10 billion for its role in the national opioid crisis, other drugmakers are hoping to latch onto the deal to resolve their own litigation threats, The Wall Street Journal reported.

Endo International, Johnson & Johnson, Teva Pharmaceutical Industries, Allergan and Mallinckrodt are looking to participate in the bankruptcy that could shrink or close the pending litigation against the companies. Purdue Pharma, the maker of OxyContin, agreed to its huge settlement in the face of more than 2,000 lawsuits stemming from the opioid abuse and overdose epidemic, which claimed 68,000 lives in 2018.

Filing for bankruptcy was among the many provisions of the settlement. J&J was recently handed a $572 million judgment to pay Oklahoma for contributing to opioid deaths and abuses there by downplaying the dangers of its opioid painkillers. The company is appealing the judgment.

“The cases have become political flashpoints as communities look for ways to recover money to address the costs of treating addiction, including overstressed hospitals and first responders, and to care for babies born with opioid dependence,” WSJ reporters Sara Randazzo and Patrick Fitzgerald wrote.

According to the report, the discussions are still in early stage with no reported dollar figures.

See the full story below: