Purdue Pharma Preparing Possible Bankruptcy Filing

Move could pave way to settle mounting lawsuits over opioid crisis

Sara Randazzo and

Jared S. Hopkins

Updated March 4, 2019 5:19 p.m. ET

OxyContin maker Purdue Pharma LP is preparing a possible bankruptcy filing as it seeks to contain liability from hundreds of lawsuits alleging it fueled the nation’s opioid epidemic, according to people familiar with the matter.

Its restructuring advisers now include AlixPartners LLP, a New York-based consulting firm known for its restructuring work, according to a person familiar with the hiring. The company last year hired law firm Davis Polk & Wardwell LLP as restructuring counsel and added longtime restructuring specialist...