{"id":61462,"date":"2025-06-21T01:04:15","date_gmt":"2025-06-20T23:04:15","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/purdue-pharma-l-p-receives-court-approval-of-disclosure-statement-filed-in-connection-with-its-plan-of-reorganization\/"},"modified":"2025-06-21T01:04:15","modified_gmt":"2025-06-20T23:04:15","slug":"purdue-pharma-l-p-receives-court-approval-of-disclosure-statement-filed-in-connection-with-its-plan-of-reorganization","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/purdue-pharma-l-p-receives-court-approval-of-disclosure-statement-filed-in-connection-with-its-plan-of-reorganization\/","title":{"rendered":"Purdue Pharma L.P. Receives Court Approval of Disclosure Statement Filed in Connection with its Plan of Reorganization"},"content":{"rendered":"<div>\n<ul class=\"bwlistdisc\">\n<li>\nPlan to deliver more than $7.4 billion of creditor distributions<\/li>\n<li>\nCompany to begin creditor vote solicitation process; voting deadline set for September 30, 2025<\/li>\n<\/ul>\n<p>STAMFORD, Conn.&#8211;(BUSINESS WIRE)&#8211;Purdue Pharma L.P. (\u201cPurdue\u201d)<b> <\/b>today announced that the United States Bankruptcy Court for the Southern District of New York (the \u201cBankruptcy Court\u201d) approved the Company\u2019s disclosure statement for its Chapter 11 Plan of Reorganization. The disclosure statement provides creditors with detailed information on the terms of the Plan and will accompany the ballots that will be sent to the more than 600,000 claimants eligible to vote.<\/p>\n<p>\nThe court has set a September 30 voting deadline and a November confirmation hearing.<\/p>\n<p>\n\u201cFollowing the 2024 Supreme Court ruling, we doubled down on our commitment to work with our creditors to design a new Plan that delivers unprecedented value to those affected by the opioid crisis. Today\u2019s disclosure statement approval is a major milestone in that effort,\u201d said Purdue Board Chairman Steve Miller. \u201cWe and our creditors have worked tirelessly in mediation to build consensus and negotiate a settlement that will increase the total value provided to victims and communities, put billions of dollars to work on day one, and serve the public good. We sincerely thank our stakeholders for their dedication and collaboration, and we look forward to having the plan confirmed and consummated as quickly as possible.\u201d<\/p>\n<p>\nPurdue\u2019s Plan of Reorganization includes the following elements:<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAssuming full creditor participation, the Sacklers will make settlement payments of approximately $6.5 billion in installments over the next 15 years, subject to certain reserves. They will pay $1.5 billion on the day the Plan becomes effective.<\/li>\n<li>\nPurdue will contribute 100% of its assets, with an expected $900 million in cash available for distribution on the day of emergence.<\/li>\n<li>\nNotably, the Plan is the only opioid settlement to date that meaningfully compensates individual victims. Assuming full participation, individual victims will receive more than $850 million.<\/li>\n<li>\nIn addition to this cash value, the Plan creates a new company with a public minded mission. The new company will provide millions of doses of lifesaving opioid use disorder treatment and overdose reversal medicines at no profit.<\/li>\n<li>\nThe Sacklers, who exited the Board of Purdue by the end of 2018 and have had no involvement in Purdue since that time, will have no role whatsoever in the new company.<\/li>\n<li>\nPurdue Pharma L.P. will be liquidated following emergence.<\/li>\n<li>\nThe Plan also provides a historic level of transparency. It creates a document repository that will make available to the public millions of documents, including privileged documents, related to Purdue\u2019s historical sales and marketing practices.<\/li>\n<li>\nThe Plan does not contain third-party releases and fully complies with the Supreme Court\u2019s June 2024 decision in <i>Harrington<\/i>.<\/li>\n<\/ul>\n<p>\nThe disclosure statement approved today provides the full details about the material aspects of the plan. The Plan is subject to confirmation by the Bankruptcy Court. This release is not intended as a solicitation of a vote on the Plan.<\/p>\n<p>\n<b>About Purdue Pharma L.P.<\/b><\/p>\n<p>\n<a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.purduepharma.com%2F&amp;esheet=54280274&amp;newsitemid=20250620000765&amp;lan=en-US&amp;anchor=Purdue+Pharma&amp;index=1&amp;md5=4fb44d7ec5f510b153c0e7fe958b144d\" rel=\"nofollow\" shape=\"rect\">Purdue Pharma<\/a> and its subsidiaries develop, manufacture and market medications to meet the evolving needs of healthcare professionals, patients, and caregivers. Purdue and its subsidiaries focus on balancing innovative science with clinically effective, compassionate care. The Company\u2019s goals are to serve patients who rely on its medicines, pursue public health initiatives intended to help abate the opioid crisis, advance its pipeline of branded and generic medications, and introduce medicines that will help save and improve lives.<\/p>\n<p>\nFor more information, visit <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.purduepharma.com%2F&amp;esheet=54280274&amp;newsitemid=20250620000765&amp;lan=en-US&amp;anchor=www.purduepharma.com&amp;index=2&amp;md5=31fd30f523f4ca0a57d617dc94237636\" rel=\"nofollow\" shape=\"rect\">www.purduepharma.com<\/a>.<\/p>\n<p> <b>Contacts<\/b> <\/p>\n<p>\nMedia Contact: <a target=\"_blank\" href=\"&#x6d;&#97;&#x69;&#x6c;t&#x6f;&#58;n&#x65;&#119;s&#x40;&#112;&#x68;&#x61;r&#x6d;&#97;&#46;&#x63;&#111;m\" rel=\"nofollow\" shape=\"rect\">&#110;&#x65;w&#x73;&#64;&#112;&#x68;&#97;&#x72;m&#97;&#x2e;&#99;&#x6f;m<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Plan to deliver more than $7.4 billion of creditor distributions Company to begin creditor vote solicitation process; voting deadline set for September 30, 2025 STAMFORD, Conn.&#8211;(BUSINESS WIRE)&#8211;Purdue Pharma L.P. (\u201cPurdue\u201d) today announced that the United States Bankruptcy Court for the Southern District of New York (the \u201cBankruptcy Court\u201d) approved the Company\u2019s disclosure statement for its &#8230; <span class=\"more\"><a class=\"more-link\" href=\"https:\/\/pharma-trend.com\/en\/purdue-pharma-l-p-receives-court-approval-of-disclosure-statement-filed-in-connection-with-its-plan-of-reorganization\/\">[Read more&#8230;]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-61462","6":"format-standard","7":"category-industry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Purdue Pharma L.P. Receives Court Approval of Disclosure Statement Filed in Connection with its Plan of Reorganization - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/purdue-pharma-l-p-receives-court-approval-of-disclosure-statement-filed-in-connection-with-its-plan-of-reorganization\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Purdue Pharma L.P. Receives Court Approval of Disclosure Statement Filed in Connection with its Plan of Reorganization - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"Plan to deliver more than $7.4 billion of creditor distributions Company to begin creditor vote solicitation process; voting deadline set for September 30, 2025 STAMFORD, Conn.&#8211;(BUSINESS WIRE)&#8211;Purdue Pharma L.P. 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