Pharmaceutical Company Expected to File Bankruptcy Over Opioid Crisis

The Associated Press reports that negotiations have with Purdue Pharma have reached an impasse and the company is expected to file bankruptcy.

The AP states:

Attempts to reach a nationwide settlement over the opioid crisis with OxyContin maker Purdue Pharma have hit an impasse, and the company is expected to file for bankruptcy.

State attorneys general for Tennessee and North Carolina have been leading the negotiations. They sent a message Saturday to other attorneys general saying the Sackler family, which owns Purdue, had rejected two offers from the states and declined to offer counterproposals.

As a result, the attorneys general said they expect Stamford, Connecticut-based Purdue to file “for bankruptcy protection imminently.”

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