JPMorgan Chase cuts ties with Purdue Pharma over alleged role in opioid crisis

JPMorgan Chase cuts ties with Purdue Pharma over alleged role in opioid crisis

Move makes the bank the most high-profile corporation to have distanced itself from the OxyContin maker and Sackler family Banking giant JP... 00:02:00

Move makes the bank the most high-profile corporation to have distanced itself from the OxyContin maker and Sackler family

Banking giant JPMorgan Chase has cut ties with Purdue Pharma over the OxyContin maker’s alleged role in the US opioids crisis, forcing the prescription painkiller manufacturer to find a new bank to manage cash and bill payments, people familiar with the matter said on Thursday.

The move makes JPMorgan, the largest US bank by assets, the most high-profile corporation known to have distanced itself from Purdue and its wealthy owners, the multibillionaire members of the Sackler family, amid thousands of lawsuits alleging the company pushed addictive painkillers while downplaying their abuse and overdose risks.

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from US news | The Guardian http://bit.ly/2VW3eKK