Pharmaceutical Company Bankruptcy To Pay Claimants

Among the front headlines for a pharmaceutical company charged with last year’s lethal meningitis outbreak stands the company’s bankruptcy filing. Already facing big trouble from the Center For Disease control,  The New England Compounding Center in Massachusetts is also battling court claims and financial turmoil.

Making Amends

The England Compounding Center  (NECC) is the company responsible for the tainted steroids that were distributed across the country last year, resulting in 264 illness and 19 fatalities. Last December the NECC filed for Chapter 11 bankruptcy protection. Upon initial filing, many were outraged assuming the NECC would be dodging responsibility for paying compensation claims. However, a recent ruling could prove to result in the opposite.

The bankruptcy judge has set a deadline on claim submissions for victims and families of those who were affected by the meningitis outbreak. Those who have suffered physical injuries, distress, personal losses or treatment costs related to the outbreak linked to NECC’s products have until January 15, 2014 claims. However, the court cannot guarantee compensation under the Chapter 11 bankruptcy plan, nor does it replace the hundreds of lawsuits already pending against the NECC.

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