Johnson & Johnson Subsidiary Seeks Bankruptcy Protection to Deal

[ad_1] Johnson & Johnson announced on Thursday that a subsidiary it recently created to manage claims that its talc-based products cause cancer has filed for bankruptcy protection. The company said in a statement that it hopes filing for Chapter 11 protection will help resolve current and future claims “fairly for all parties.” J&J. He said …

US Trying to Block Bankruptcy Plan to Release Sacklers

[ad_1] WASHINGTON — The Department of Justice moved on Thursday to block a bankruptcy plan by its drug, OxyContin, that gives broad legal immunity to Purdue Pharma, the pharmaceutical company at the center of the nation’s opioid epidemic. William K. Harrington, trustee of the U.S. Department of Justice, filed a lawsuit in federal court to …

Purdue Pharma’s Creditors Overwhelm Its Bankruptcy Plan

[ad_1] The vast majority of Purdue Pharma’s more than 120,000 creditors voted to approve the company’s bankruptcy plan, an important step toward the eventual release of more than $4.5 billion to help pay the costs of the opioid epidemic and resolve thousands of lawsuits. against the company and its owners, members of the billionaire Sackler …