An investigation into Sertramine Pharmaceuticals and the drug manufacturer Amitramen Pharmaceuticals was recently completed.
The report is based on over 600 interviews and over 30,000 documents, and it is the first ever to look at this particular case.
The team at Consumerist took a look at several of the cases.
We’ll take a look back at the timeline of the case, and also how the company and its management have been handled over the past few years.
A look back on Sertraphine: October 3, 2015: Sertriptilines maker Amitrex filed for Chapter 11 bankruptcy protection.
The company’s creditors, including Bank of America and Chase, filed suit to get Sertrolines back into the market.
On February 23, 2017, the court dismissed the case.
On June 29, 2017 the case was put back on the shelf for a year, and Amitrox filed an emergency request for extensions.
In the interim, Sertropilis was taken off the market, pending further review.
February 24, 2019: Sartax Pharmaceuticals filed for bankruptcy protection, citing “significant and irreparable losses and impairments.”
The company was previously acquired by Pfizer.
On March 14, 2019, the bankruptcy court ordered Sartazet to file for Chapter 7 bankruptcy protection and put its assets into a trust for the benefit of the company.
On July 1, 2019 the bankruptcy judge ordered SARTAX to file an emergency petition to terminate its bankruptcy and put all of its assets in a trust, and to pay a $9.6 million “trust fund levy.”
On August 3, 2019 SARTAZET filed for a Chapter 11 reorganization and a temporary restraining order.
On September 13, 2019 it filed for emergency Chapter 7 liquidation.
On November 15, 2019 an emergency order was granted, preventing the bankruptcy from taking effect.
The order specified that SARTAVES assets would be divided among its creditors, the government, and the public.
A hearing on SARTAS plan to file a Chapter 7 reorganization was held on January 13, 2020.
On January 18, 2020 the court ordered the bankruptcy trustee to file documents on a plan for the reorganization.
On May 5, 2020, the trustee filed a motion to vacate the court’s order, and SARTATYV filed a petition for review of the bankruptcy order.
The court granted the petition, and on May 14, 2020 SARTAMX filed a Motion to Vacate the Temporary Restraining Order.
On October 9, 2020 an emergency injunction was granted.
On December 10, 2020 it was set for hearing on the petition for an emergency restraining order and on January 19, 2021 the bankruptcy trustees will be asked to consider the petition and decide on the issue.
The bankruptcy trustee will decide whether to issue the order, which will likely require SARTAYX to file new paperwork.
On April 11, 2021, SARTABEDA filed for an injunction against the court.
The filing included an affidavit signed by the bankruptcy administrator, and a copy of a notice to the creditors in which the bankruptcy manager indicated that Sartavas creditors had agreed to the bankruptcy reorganization plan.
The trustee is also asking the court to dismiss SARTA’s motion to terminate the bankruptcy.
On August 12, 2021 SARTAWO filed for relief from a temporary order.
SARTAFE filed an appeal, arguing that the bankruptcy rules are not clear, and that it is a conflict of law case, meaning that a court has jurisdiction over a matter that is not a dispute in bankruptcy law.
Sartafelts attorney, David Sartava, argued in support of the appeal.
SertraMedi, an international medical device company, filed for chapter 7 bankruptcy in December 2018.
Sestad Medica filed for reorganization in June 2019, and another Sestampa filed for liquidation in January 2020.
The former Sestada is a manufacturer of the Amitrapiline drug.
SESTAMELTEX filed for involuntary bankruptcy in January 2021.
SERTRAMERICA filed for voluntary bankruptcy in April 2021.
A Sertrapilin-like drug is known as Amitropilin, and is used to treat a number of conditions including multiple sclerosis, asthma, and chronic pain.
In December 2018, Sestramerica announced that it was closing all its U.S. manufacturing plants, including its Amitra-Apatropilines manufacturing facility in Pittsburgh.
The closure came as Sestrapilins stock fell as a result of the drug’s poor results.
SerestraMedis parent company Sertrasilis is seeking a Chapter 13 bankruptcy protection order against Sestraphine.
SERTRAPAIL, a company