WSJ News Exclusive | Purdue Pharma Made, Then Ditched, Plans for Opioid-Treatment Nonprofit

OxyContin maker Purdue Pharma made plans to launch a foundation to fund opioid-addiction treatment and research, then scrapped the project amid hundreds of lawsuits and a possible bankruptcy filing

OxyContin maker Purdue Pharma LP nixed plans earlier this year to launch a foundation to fund opioid-addiction treatment and research as the company rethought its strategy amid hundreds of lawsuits and a possible bankruptcy filing.

Purdue staff pitched the foundation concept several years ago, and the drugmaker’s owners and executives spent several months developing the latest version, according to people familiar with the matter and internal company emails viewed by The Wall Street Journal.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

WSJ /  🏆 98. in US

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

WSJ News Exclusive | Charles Schwab to Cut 600 Employees, or About 3% of StaffCharles Schwab's move to trim staff comes as firms across Wall Street and beyond grapple with a shift in Federal Reserve policy
Read more »

WSJ News Exclusive | Groupon Said to Be Pursuing Acquisition as Business Faces Pressure From InvestorsDaily-deals company Groupon is pursuing an acquisition amid discontent among shareholders about the firm’s financial performance and stock price, people familiar with the matter say. The target could be Yelp, the San Francisco-based online-review company, according to two other people familiar with the situation.
Read more »

WSJ News Exclusive | Nissan Management Withholds Full Ghosn Report From BoardNissan Motor’s management has yet to give its board the complete 170-page report detailing alleged wrongdoing by former Chairman Carlos Ghosn, drawing complaints from some directors.
Read more »

WSJ News Exclusive | Big U.S. Banks Crowd Into Aramco IPOGlobal investment bankers launched the underwriting process for the initial public offering of Saudi oil giant Aramco, a sign financiers who shunned the kingdom after the murder of journalist Jamal Khashoggi are turning the page.
Read more »