The US Supreme Court has temporarily blocked a $6 billion Purdue Pharma-Sackler bankruptcy, citing public health concerns.

The US Supreme Court has temporarily blocked a $6 billion Purdue Pharma-Sackler bankruptcy, citing public health concerns. The move is the latest in an ongoing battle between states and the Sacklers over payments related to the opioid crisis. The high court’s decision allows for further negotiations on a settlement that would provide states with more money than what had been offered in a previous proposal.

The Sacklers had proposed the $6 billion settlement to resolve claims over the company’s role in the opioid crisis but it was not received favorably by state attorneys general and other parties who argued that Purdue Pharma did not offer enough money for victims of the crisis.

The Supreme Court has now put a halt on proceedings while negotiations continue. It is hoped that the decision will help states secure more money than what had been proposed in the prior settlement agreement. The move could also provide greater accountability from Purdue Pharma and its owners, the Sackler family.

In addition to blocking this particular bankruptcy, other legal proceedings are underway against various pharmaceutical companies accused of contributing to the opioid crisis through their marketing practices and distribution of opioid-based drugs.

The ultimate outcome of these legal proceedings will have a significant impact on stock markets and investors, so it is important to stay informed about this rapidly evolving situation. Keeping up with the latest news in this area can help investors make more informed decisions and ensure they are properly prepared for any potential market fluctuations related to the opioid crisis.

Share This Article

 

About the Author

The US Supreme Court has temporarily blocked a $6 billion Purdue Pharma-Sackler bankruptcy, citing public health concerns.

Editor Prism MarketView