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.

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