Wednesday, December 26, 2012
NECC Drug Compounder Files for Bankruptcy
On December 21, the New England Compounding Center filed for
bankruptcy under Chapter 11.
The company believes it is the best way to quickly and fairly pay back its
creditors, according to CNN.
NECC is the drug compounding company linked to contaminated
steroid injections that sickened 620 people, 39 of whom died as a result of
fungal meningitis. The steroid injections are commonly used to treat pain.
Health agencies have determined NECC did not follow proper sterilization
standards and shipped vials of the steroid that had not yet passed
sterilization tests.
In addition to filing for Chapter 11 bankruptcy,
NECC plans to set up a fund for victims of the contaminated steroids. The fund
would provide compensation to people injured by the contaminated steroid, and
possibly to families who lost a loved one because of the contaminated steroid.
To learn more about bankruptcy, please contact an experienced
lawyer through our directory.
posted by Tess @ 9:13 AM
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