Drugmakers Look To Use Purdue Pharma’s Bankruptcy To Settle Opioid Suits -WSJ

Endo International Plc, Johnson & Johnson and other drugmakers that face litigation over the opioid crisis are exploring a way to settle the cases by participating in Purdue Pharma LP’s bankruptcy, the Wall Street Journal reported, citing internal documents and a person familiar with the matter.

Five drugmakers battling the cases – Endo, J&J, Teva Pharmaceutical Industries Ltd , Allergan Plc and Mallinckrodt Plc – are looking to enact a global settlement of the litigation that would be implemented through Purdue’s Chapter 11 case, the WSJ reported citing a person familiar with the matter.

The mechanism, if successful, would allow the companies to contribute money into a trust set up through the bankruptcy in exchange for a complete release from liability, according to the report. – Reuters