Advertisement
Canada markets close in 1 hour 41 minutes

  • S&P/TSX

    22,285.66
    +26.19 (+0.12%)
     

  • S&P 500

    5,184.30
    +3.56 (+0.07%)
     

  • DOW

    38,862.06
    +9.79 (+0.03%)
     

  • CAD/USD

    0.7282
    -0.0039 (-0.54%)
     

  • CRUDE OIL

    78.58
    +0.10 (+0.13%)
     

  • Bitcoin CAD

    86,780.07
    -16.05 (-0.02%)
     

  • CMC Crypto 200

    1,313.05
    -52.08 (-3.81%)
     

  • GOLD FUTURES

    2,322.30
    -8.90 (-0.38%)
     

  • RUSSELL 2000

    2,071.33
    +10.66 (+0.52%)
     

  • 10-Yr Bond

    4.4490
    -0.0400 (-0.89%)
     

  • NASDAQ

    16,330.62
    -18.63 (-0.11%)
     

  • VOLATILITY

    13.38
    -0.11 (-0.81%)
     

  • FTSE

    8,313.67
    +100.18 (+1.22%)
     

  • NIKKEI 225

    38,835.10
    +599.03 (+1.57%)
     

  • CAD/EUR

    0.6770
    -0.0022 (-0.32%)
     
MARKETS LIVE BLOG:

STOCKS TRADE HIGHER; DISNEY SINKS AFTER EARNINGS

Apple reportedly designing its own AI chips for data centres

Drugmakers look to use Purdue Pharma's bankruptcy to settle opioid suits -WSJ

Reuters
Updated

Sept 30 (Reuters) - Endo International Plc, Johnson & Johnson and other drugmakers that face litigation over the opioid crisis are exploring a way to settle the cases by participating in Purdue Pharma LP's bankruptcy, the Wall Street Journal reported, citing internal documents and a person familiar with the matter.

Five drugmakers battling the cases - Endo, J&J, Teva Pharmaceutical Industries Ltd , Allergan Plc and Mallinckrodt Plc - are looking to enact a global settlement of the litigation that would be implemented through Purdue's Chapter 11 case, the WSJ reported citing a person familiar with the matter.

The mechanism, if successful, would allow the companies to contribute money into a trust set up through the bankruptcy in exchange for a complete release from liability, according to the report. (https://on.wsj.com/2nVksYH)

OxyContin maker Purdue filed for bankruptcy protection in September, succumbing to pressure from more than 2,600 lawsuits alleging the company helped fuel the deadly U.S. opioid epidemic.

Purdue, Mallinckrodt, Endo, J&J, Teva and Allergan were not immediately available to Reuters' requests for comment. (Reporting by Shanti S Nair in Bengaluru; Editing by Anil D'Silva)