Purdue Pharma Settles 1 of 1600 lawsuits for $270 Million
Purdue Pharma has been a sight for sore eyes in headline news channels as of recently. The pharmaceutical giant has over a thousand lawsuits pending against them for making drugs with extra addictive additive properties. The most recent, and first, settlement to occur is the $270 payout to Oklahoma Research and Treatment Center.
Oklahoma's very own Attorney General, Mike Hunter, filed a law suit against Purdue Pharma nearly 2 years ago, accusing Purdue Pharma of false advertising and extra aggressive marketing towards a downplayed, highly addictive drug. At the time of filing suit, Hunter claimed $20 Billion in damages against multiple pharmaceutical companies.
What's Next For Purdue Pharma?
Well, it certainly isn't looking pretty for Purdue Pharma. To put it as blatantly as possible, they just settled they're FIRST lawsuit, and they still have 1,599 more to go. All in all, Purdue Pharma will most likely dissolve the entire company OR if they really want to try and make a comeback, file for chapter 11 bankruptcy.