Under Fire For Role In Opioid Crisis, Purdue Pharma Brings On Self-Proclaimed Rescuer Of ‘America’s Troubled Companies’
Steve Miller, 76, will join the company as chairman of the board. Navigating the more than 800 opioid lawsuits against the company will be among the most immediate tasks facing the new chairman.
Bloomberg:
‘Turnaround Kid’ Is Tapped To Lead OxyContin Maker's Board
Purdue Pharma LP is bringing in a famous figure in corporate restructuring as the Oxycontin maker tries to overhaul its business and distance itself from the U.S. opioid crisis. Steve Miller, 76, will become chairman of the company’s board effective Tuesday. Miller, author of a 2008 memoir titled “The Turnaround Kid: What I Learned Rescuing America’s Most Troubled Companies,” helped lead auto-parts maker Delphi Corp. through bankruptcy and served as chairman of American International Group Inc. as the insurer worked to repay its federal bailout after the financial crisis. (Hopkins and Bsak, 7/23)
In other news on the crisis —
Politico Pro:
Timetable For Senate Opioid Bill May Slip
The Senate is increasingly unlikely to vote on sweeping opioid legislation by Labor Day, potentially depriving Democrats in some hard-hit states of a vote on a bill before going home to voters. The looming fight over the nomination of Supreme Court nominee Brett Kavanaugh combined with negotiations over what gets into the bill are threatening to delay a vote on the bipartisan response to the crisis, which Senate Majority Leader Mitch McConnell said was among his priorities after scrapping August recess. (Haberkorn and Ehley, 7/23)
Atlanta Journal-Constitution:
How Cobb Doctors Do Their Part To Reduce Opioid Addiction
More than 2 million Americans, they say, depend on or abuse street drugs and prescription painkillers like morphine, oxycodone, or hydrocodone prescribed by doctors. Every day since his brother’s death in 2006, Scott Rose is reminded of this and the responsibility he has to his patients. (Bonds Stables, 7/24)
