Tracking List of Biopharma Bankruptcy Filings in 2019
The number of bankruptcy cases in the biopharmaceutical industry in 2019 reached a new high since 2011. As of November 19, 11 companies have filed for Chapter 11 bankruptcy protection, with several burdened by opioid litigation, while other antibiotic developers have struggled due to commercialization setbacks. This article provides a complete list and links to related in-depth analyses.
As of 2019, 11 biopharmaceutical companies have filed for bankruptcy, including Purdue Pharma, Achaogen, and Pernix Therapeutics.
Editor's Note:This article is part of a series on bankruptcies in the biopharmaceutical industry. Clickhereto read the main article on how threats facing the industry could lead to more bankruptcy filings; clickhereto view the 31 biopharmaceutical companies at high risk of bankruptcy in 2020.
Bankruptcy numbers hit a recent high
Although Chapter 11 bankruptcy protection is not common in the biotechnology and pharmaceutical industry, the number of drug companies that have fallen into bankruptcy this year exceeds any year since 2011. Legal pressure is particularly prominent, with multiple drug companies under pressure from thousands of opioid lawsuits. Purdue Pharma and Insys Therapeutics have both filed for bankruptcy, while several other opioid manufacturers remain at risk.
Antibiotic developers face commercialization difficulties
Meanwhile, antibiotic manufacturers Achaogen and Aradigm struggled in 2019. Even with Achaogen's recent FDA approval, commercialization obstacles still forced the company into bankruptcy—further confirming what some have called a failure in the antibacterial drug market.
Complete list of biopharmaceutical bankruptcies in 2019
Here is the full list of biopharmaceutical bankruptcies in 2019: