Oct. 21, 2020 23:09 UTC<\/p>\n
PHILADELPHIA--(BUSINESS WIRE)-- In response to the pharmaceutical giant Mallinckrodt Pharmaceuticalsbankruptcy filing last week, Delaware Valley Health Care Coalition, Inc. (DVHCC) President John Heenan said, Its crucial for our members to have a seat at the table for the bankruptcy proceedings.<\/p>\n
The DVHCC is a non-profit voluntary association comprised of multi-employer trust funds, governmental entities, labor unions, schools and school districts in over fourteen states and the District of Columbia.<\/p>\n
Three of DVHCCs members have sued Mallinckrodt for their pricing scheme of the drug H.P. Acthar Gel. The drug cost just $40 a vial in 2001 and today costs $46,000 per vial.<\/p>\n
H.P. Acthar Gel is a hormone used to treat conditions such as multiple sclerosis. It can reduce the symptoms but it is not a cure for these conditions.<\/p>\n
Last week, Mallinckrodt filed for bankruptcy putting a stay on the current lawsuits in an attempt to avoid liability for its pricing scheme. Henry Donner, DVHCC Counsel said, We are asking the Bankruptcy Trustee to include a representative from our litigation on the bankruptcy committee which will decide, among other things, how unsecured creditors are paid.<\/p>\n
Among the DVHCC members who have sued Mallinckrodt and are owed hundreds of millions of dollars are the Steamfitters Local 420, Operating Engineers Local 542 and Plumbers Local 322.<\/p>\n<\/p>\n
View source version on businesswire.com: https:\/\/www.businesswire.com\/news\/home\/20201021006085\/en\/<\/a><\/p>\n <\/p>\n Go here to read the rest: <\/p>\n Pharmaceutical Giant Mallinckrodt Bankruptcy Threatens Lawsuit Filed by Local Unions and Delaware Valley Health Care Coalition, Worth Hundreds of...<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Oct. 21, 2020 23:09 UTC PHILADELPHIA--(BUSINESS WIRE)-- In response to the pharmaceutical giant Mallinckrodt Pharmaceuticalsbankruptcy filing last week, Delaware Valley Health Care Coalition, Inc Continue reading