Purdue Pharma nabs court approval for $397M sale of consumer health unit
A federal bankruptcy judge on Tuesday approved Purdue Pharma’s $397 million sale of its consumer health unit to a subsidiary of Arcadia Consumer Healthcare.
The news comes as Purdue awaits the court’s approval of a proposed settlement worth more than $10 billion to resolve civil claims over its role in the opioid epidemic, which claimed more than 564,000 lives between 1999 and 2020. The company filed for bankruptcy in 2019 amid mounting lawsuits alleging deceptive marketing of its highly addictive painkiller Oxycontin.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.