McKinsey & Co is under criminal investigation in the United States over allegations that the consulting firm played a key role in fueling the opioid epidemic, with federal prosecutors homing in on its work advising OxyContin maker Purdue Pharma and …
Bankrupt drugmaker Endo International said on Tuesday a U.S. Bankruptcy Court has approved its restructuring plan and related opioid settlements to emerge from bankruptcy, which began in 2022. The company said the transaction is expected to close by late April. …
Nancy Zailo is at the back of the line. She’s behind Jeffrey Stein, the Rite Aid Corp. chief executive collecting $300,000 paychecks every month. She’s behind consultants at Alvarez & Marsal, who have billed the pharmacy chain $75 million and …
Bankrupt drugmaker Endo International will pay up to $465 million to settle the federal government’s law enforcement, tax, and healthcare cost claims, the U.S. Department of Justice said on Thursday. The settlement removes Endo’s largest obstacle to completing its plan …
Bankrupt pharmacy chain Rite Aid Corp. agreed to begin court-supervised mediation with lower ranking creditors, including groups that blame the company for contributing to America’s opioid addiction crisis. The company, backed by senior lenders, will negotiate with unsecured creditors about …
U.S. Supreme Court justices on Monday struggled over whether to approve OxyContin maker Purdue Pharma’s bankruptcy settlement, voicing concern the deal would shield its wealthy Sackler family owners from lawsuits over their role in a deadly opioid epidemic while also …
The U.S. Supreme Court on Monday is set to hear a challenge by President Joe Biden’s administration to the legality of OxyContin maker Purdue Pharma’s bankruptcy settlement, a deal that if approved would shield its wealthy Sackler family owners from …
The agreement by the maker of OxyContin to settle thousands of lawsuits over the harm done by opioids could help combat the overdose epidemic that the painkiller helped spark. But that does not mean all the victims are satisfied. In …
Debt-laden Rite Aid filed for bankruptcy protection on Sunday and said it would close underperforming stores, as the drugstore chain comes under pressure from lawsuits alleging that it helped fuel the U.S. opioid crisis. The filing will allow it to …
Drugmaker Mallinckrodt on Oct. 10 won court approval for a bankruptcy plan that cuts $1 billion from what it must pay opioid crisis victims, cancels existing equity shares, and trims nearly $2 billion in other debt. The Ireland-based company reached …
