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Sat December 22, 2012
NECC Files For Chapter Eleven
The Massachusetts pharmacy blamed for a deadly outbreak of fungal meningitis has filed for bankruptcy protection.
The New England Compounding Center said in the filing in U.S. Bankruptcy Court that it seeks to establish a fund to compensate those affected by the nationwide outbreak.
The Framingham-based company has appointed accountant Keith D. Lowey as independent director and chief restructuring officer.
Lowey says in a statement it's "difficult to comprehend the sense of loss so many people have experienced." He says the company recognizes the need to fairly compensate those affected by the outbreak.
Contaminated injections from the company are blamed for 39 deaths and 620 illnesses in 19 states.