Opioid OxyContin maker Purdue Pharma moves to resolve law suites but it may be too late
Sonia Joshi, Bangalore
Mar. 27, 2019

Image credit : CBC News : https://www.youtube.com/watch?v=iNOHAJs9dBY

In an apparent move to resolve more than 1500 law suites caused by Opioid OxyContin, the drug maker Purdue Pharma is taking proactive steps in Oklahoma to resolve the issues. However it may be too little and too late according to Wall Street's Pharma Analysts.

The deal in the making only addresses one of more than thirty states that are pressing claims against the opioid maker. Purdue is also looking at a bankruptcy settlement that can help it get a global settlement under an umbrella protection.

In this settlement, Oklahoma State University gains more than $100 million that Purdue will pay the University addiction and treatment center. In addition Purdue will pay millions for medication, litigation cost and more.

According to Indian Stock Market analysts Purdue's problem have just started and will engulf the company in the next eighteen months.



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