BioPharma

The bankruptcy is part of a tentative agreement with 24 states and thousands of cities and counties that sought to recover damages.

OxyContin maker Purdue Pharma has embarked on a multibillion-dollar plan to settle thousands of lawsuits over the nation’s deadly opioid crisis by transforming itself in bankruptcy court into a sort of hybrid between a business and a charity.

The filing, made in federal bankruptcy court in White Plains, N.Y., marks a remarkable downfall for the closely held company started more than five decades ago in New York by three physician brothers.

Purdue Pharma, the company behind the prescription painkiller OxyContin, has filed for bankruptcy.

Purdue Pharma, the drug manufacturer behind OxyContin and much of the US opioid crisis, is declaring corporate bankruptcy.

Milestones of Drug Regulation in the United States

Total industry bill to resolve litigation seen at $150 billion.

In a court filing, the state attorney general’s office says that it has found new account transfers by family members who own Purdue Pharma, the maker of opioids.

The following are some of the largest U.S. legal settlements involving the pharmaceutical industry.

Without a doubt, the drug-pricing system is complex. It lacks transparency and includes several layers of middlemen all eager to take their cut.

At least 20 states reject settlement with OxyContin maker Purdue Pharma.

The American patent system has served as a cornerstone of innovation. But the pharmaceutical industry's willingness to undermine the system is having real consequences for American patients.

Europe’s biotechs currently receive only 20 percent of the funding their US counterparts do.

A Reuters article on Wednesday revealed accusations that Merck did not fully disclose on Propecia’s label the incidence and duration of sexual dysfunction in men who took Propecia in clinical trials.

"Basically we've outsourced our entire industry to China," retired Brig. Gen. John Adams told NBC News. "That is a strategic vulnerability."