JPMorgan Chase has severed its links with Purdue Pharma because of lawsuits against the pharmaceutical over its OxyContin painkiller . hp is now reportedly handling the firm ’s debts . The lawsuits allege Purdue using OxyContin with scant reference to abuse and overdose risks . Earlier this year , JPMorgan , whose commercial division handled Purdue ’s cash and bills , told the firm it had taken steps to find a replacement bank because of the reputational risk JPMorgan faced in acquiring it . The bank is one of a number of organisations separating themselves from Purdue and its Sackler family owners .
JPMorgan Chase has severed its links with Purdue Pharma because of lawsuits against the pharmaceutical over its OxyContin painkiller. Comerica is now reportedly handling the firm’s finances. The lawsuits allege Purdue promoted OxyContin with scant reference to abuse and overdose risks. Earlier this year, JPMorgan, whose commercial division handled Purdue’s cash and bills, told the firm it had six months to find a replacement bank because of the reputational risk JPMorgan faced in backing it. The bank is one of a number of organisations distancing themselves from Purdue and its Sackler family owners.