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    Too many Deaths, Too many Overdoses

    • Date
      September 16, 2019
    • City/County
      New York, New York
    • Type of Case
      Bankruptcy
    • Case Details
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    Title

    Too many Deaths, Too many Overdoses

    Date
    September 16, 2019
    State or Country
    New York
    County/City:
    New York, New York
    The Court the Case was filed in

    UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK

    Type of Case
    Bankruptcy
    Case Number

    19-23649-rdd

    Judges

    Honorable Robert D. Drain, United States Bankruptcy Judge:

    Plaintiff

    The Debtors in these cases, along with the last four digits of each Debtor’s registration number in the applicable jurisdiction,are as follows: Purdue Pharma L.P. (7484), Purdue Pharma Inc. (7486), Purdue Transdermal Technologies L.P. (1868), Purdue Pharma Manufacturing L.P. (3821), Purdue Pharmaceuticals L.P. (0034), Imbrium Therapeutics L.P. (8810), Adlon Therapeutics L.P. (6745), Greenfield BioVentures L.P. (6150), Seven Seas Hill Corp. (4591), Ophir Green Corp. (4594), Purdue Pharma of Puerto Rico (3925), Avrio Health L.P. (4140), Purdue Pharmaceutical Products L.P. (3902), Purdue Neuroscience Company (4712), Nayatt Cove Lifescience Inc. (7805), Button Land L.P. (7502), Rhodes Associates L.P. (N/A), Paul Land Inc.(7425), Quidnick Land L.P. (7584), Rhodes Pharmaceuticals L.P. (6166), Rhodes Technologies (7143), UDF L.P. (0495), SVC Pharma L.P. (5717) and SVC Pharma Inc. (4014).The Debtors’ corporate headquarters is located at One Stamford Forum, 201 Tresser Boulevard, Stamford, CT 06901.19-23649-rdd Doc 17 Filed 09/16/19 Entered 09/16/19 03:41:02 Main Document Pg 1 of 64

    Defendant

    TBD

    Plaintiff Attorney

    PILLSBURY WINTHROP SHAW PITTMAN LLP
    Andrew M. Troop
    31 West 52nd Street
    New York, New York 10019
    212-858-1000

    Comments

    IntroductionI.

    Purdue Pharma L.P. (“Purdue Pharma”) and its subsidiaries that are debtors in possession in theabove-captioned chapter 11 cases (collectively, “Debtors” or “Purdue”)2are pharmaceutical companies that manufacture, sell, or distribute, among other products, extended-release, long-acting, abuse-deterrent opioid pain medications. OxyContin®Extended-Release Tablets CII (“OxyContin”), Purdue Pharma’s most prominent pain medication, has been the target of over 2,600 civil actions pendingin various state and federal courtsand other foraacross the United States and its territories (“Pending Actions”). These Pending Actions name as defendants Purdue Pharma and certain ofthe other Debtors(“Defendant Debtors”), among other parties,and generally allege that the Defendant Debtors falsely and deceptivelymarketed OxyContin and opioid pain medications,and are liablefor the national opioid crisis.Unlike most debtors, the Debtors have no funded debt and no material past due trade obligations.Nordo theyhave any judgment creditors.3Nonetheless, the onslaught of lawsuits has proved unmanageable and poses a grave threat to the Debtors’ continued viability. Indeed, although the Debtors have contested–and continue to contest–their liability in the Pending Actions, continued litigation of thousands of Pending Actions to judgment and through appeals in the civil tort system will benefit no one; it will resultonlyin the financial and operational destruction of the Debtorsand the immense value they could otherwise provide,and the squanderingof hundreds of millions of dollars onlawyers’ and professionals’ fees.Purdue Pharma, the Debtors’ main operating entity, is projected to spend approximately $263million on 2legalandrelatedprofessionalcosts in 2019, the vast bulk of which is related to the litigations and government investigations,and the financial pressure resulting therefrom.Indeed,by even the narrowest measure, Purdue Pharma has spent $63 million in the first half of thisyear on costs and fees related to litigating the Pending Actions in court,and is projected to spend $121million by year end –a rate of over $2 million per week. Moreover, “Copycat” complaints are being filed against the Defendant Debtors by the day, further exacerbating an already untenable situation. Read more https://www.docketbird.com/court-documents/Purdue-Pharma-L-P/Statement-Informational-Brief-filed-by-Eli-J-Vonnegut-on-behalf-of-Purdue-Pharma-L-P/nysb-7:2019-bk-23649-00017

    Social Networks
    • Other
    Document Links 1 (Scribd et. al)

    https://www.leagle.com/decision/infdco20200812d43%20

    Document Link 2

    https://www.law360.com/articles/1275648/attachments/0%20

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