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A woman shops inside of a Rite Aid store underneath a DeepCam security camera in New York City, New York, U.S., June 25, 2020. Picture taken June 25, 2020. Lucas Jackson
A woman shops inside of a Rite Aid store underneath a DeepCam security camera in New York City, New York, U.S., June 25, 2020. Picture taken June 25, 2020. Lucas Jackson
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Rite Aid joins companies going bankrupt amid opioid litigation

October 16th, 2023 | 14:55 PM MARKETS Deals 1

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By Reuters

Drugstore chain Rite Aid (RAD.N) is the latest U.S. company to seek bankruptcy protection following pressure from lawsuits alleging that they helped fuel the opioid crisis.

Opioid drugs have been one of the major causes of the more than one million deaths since 1999 tied to drug overdose, according to data from U.S. Centers for Disease Control and Prevention.

Litigation against drugmakers, pharmacies and distributors, claiming that drugmakers downplayed the risks of opioids and that distributors and pharmacies failed to prevent them from being diverted to the illegal market has resulted in more than $50 billion in total settlements.

Here is a list of companies forced to file for bankruptcy protection, mainly due to U.S. opioid lawsuits and settlements.

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  • OPIOIDS/BANKRUPTCY (FACTBOX)
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