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Purdue Pharma files for bankruptcy with $10B plan to settle claims

bloomberg.com

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Re: Purdue Pharma files for bankruptcy with $10B plan to settle claims

#91

Post by i_feel_great »

riffraff wrote: post #82
braindead_in wrote: post #43

Earlier quoted context omitted.

There was a criminal investigation into Epstien as well. Look what happened to him. They even got his dead mans switch.

Assuming Epstein was killed, he was killed while he was in prison, both things hardly make him seem untouchable.

The Epstein affair was not just Epstein the single individual. He could not have operated alone all these years in the way that he did. He got lenient sentences whenever he was brought to justice. The people who supported him remain untouchable.

Re: Purdue Pharma files for bankruptcy with $10B plan to settle claims

#92

Post by grumpydba »

throwawayjava wrote: post #13
gibolt wrote: post #4

Looks like they got a golden escape hatch. Sounds like this arm of the company will end up controlled by a government trust. The best outcome would probably be the government running the operation at break even, lowering costs, and heavily regulating how much product it could give to hospitals.

Pierce the veil and go after the family.

After all they are responsible for thousands of deaths. And they knew it. I don't know why they aren't in jail already.

Re: Purdue Pharma files for bankruptcy with $10B plan to settle claims

#93

Post by paulie_a »

The amazing thing is when I was in legitimate pain in the hospital I couldn't get more than Tylenol. After I was released I drove by a pain clinic and I guarantee I could have scored some oxy that day. I didn't but it's nuts when people that need medication can't get a few pills.

Dont get me started on testorone or ADHD medication hypocrisy.

Re: Purdue Pharma files for bankruptcy with $10B plan to settle claims

#94

Post by scardine »

Havoc wrote: post #31

Seems like an abuse of the limited liability. Does the US have a way to set that aside? I know other countries do

In Brazil there is a concept called Business Entity Disregarding (Desconsideração da Personalidade Jurídica) that can get both ways: make partners liable for company debts or companies liable for partner debts. It can be triggered when the plaintiff engaged in some kind of asset hiding fraud or there are substantial confusion regarding company/personal assets.

Re: Purdue Pharma files for bankruptcy with $10B plan to settle claims

#95

Post by peteretep »

joshmn wrote: post #24

With the Sackler family funneling out money prior to this, is there any chance a judge would refuse the bankruptcy?

> The family has rejected calls by some state attorneys general to boost their guarantee to $4.5 billion, and almost 25 states are opposing the family’s settlement offer.

Re: Purdue Pharma files for bankruptcy with $10B plan to settle claims

#96

Post by simonh »

buildzr wrote: post #80
rosser wrote: post #59

Earlier quoted context omitted.

Please remember that Purdue were the ones who marketed Oxycontin on the premise of one dose for 12-hour pain relief. When they learned doctors were prescribing it for eight hours, they tried to "re-train" them to use the "proper" (read: their ) dosing recommendation, because there were cheaper drugs with six of eight hour doses. Sure, the doctors made the prescriptions, but you, and I, and everyone who thinks honestl…

> that recommendation in the first place was an act of bad faith. This seems a bit of a stretch to me. The doctors prescribed it, even given readily available research, the FDA approved it, knowing full well this was a risk. Those are the guilty parties here. Purdue filled their role just fine, they just happened to be making an opiate and so they're getting chased for it now because China is dumping fentanyl. Pretty…

According to the congressional report:

“Purdue Pharma used front organizations and sponsored research to deceive the World Health Organization and corrupt global public health policies”

If that is true and public policy was corruptly manipulated , how can you claim that this is all ok because it was allowed by public policy?

Re: Purdue Pharma files for bankruptcy with $10B plan to settle claims

#97

Post by cies »

grumpydba wrote: post #92
throwawayjava wrote: post #13

Earlier quoted context omitted.

Pierce the veil and go after the family.

After all they are responsible for thousands of deaths. And they knew it. I don't know why they aren't in jail already.

That's because of the "limited" of private limited.

(Under capitalism) many costs of having PtLds are externalized.

Re: Purdue Pharma files for bankruptcy with $10B plan to settle claims

#98

Post by peteretep »

Scoundreller wrote: post #23
dantheman wrote: post #14

Are the other manufacturers of oxycontin being sued too? I know that Purdue tried to underplay their role, but from the best #s I've seen they've only sold 20% of the market. https://www.statnews.com/2019/09/09/purdue-pharma-data-downp...

That's 20% of the whole opioid pill market, not just oxycontin. As far as I know, generic manufacturers of off-patent drugs usually aren't sued. On the one side, they don't actively promote/market their products to prescribers or patients, but I'd still think they share some blame by manufacturing it.

> but I'd still think they share some blame by manufacturing it

Nah. Opioids are an essential medication. The problem is not that OxyContin exists, it's the creation of irregular demand for it through the actions that Purdue Pharma are having to settle for.

Re: Purdue Pharma files for bankruptcy with $10B plan to settle claims

#99

Post by darawk »

i_feel_great wrote: post #91
riffraff wrote: post #82

Earlier quoted context omitted.

Assuming Epstein was killed, he was killed while he was in prison, both things hardly make him seem untouchable.

The Epstein affair was not just Epstein the single individual. He could not have operated alone all these years in the way that he did. He got lenient sentences whenever he was brought to justice. The people who supported him remain untouchable.

Ok, but he was rich. And he got "touched". Therefore the rich are not untouchable, which was the original point under discussion. Just like the Sackler family does not appear to be immune from prosecution and confiscation of their property.

Re: Purdue Pharma files for bankruptcy with $10B plan to settle claims

#100

Post by cies »

paulie_a wrote: post #93

The amazing thing is when I was in legitimate pain in the hospital I couldn't get more than Tylenol. After I was released I drove by a pain clinic and I guarantee I could have scored some oxy that day. I didn't but it's nuts when people that need medication can't get a few pills. Dont get me started on testorone or ADHD medication hypocrisy.

Just accept that the system is broken and get 'm on the most free market we currently have: the market of stuff that is merely illegal.
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