Mallinckrodt offices in Bedminster, New Jersey. Photo: Salwan Georges/The Washington Post via Getty Images

Legal and financial troubles continue to mount for two prominent opioid manufacturers.

The big picture: The prospect of multibillion-dollar settlements — which are still a long way from being hashed out — is bringing painkiller companies that were once immensely wealthy to their knees.

What's happening: As part of its bankruptcy proceedings, Purdue Pharma launched a $24 million ad campaign to tell people how they can file claims against the company if they or family members were hurt or killed by Purdue's prescription opioids, AP reports.

  • Bankruptcy may finally be a reality for Mallinckrodt's business that sells generic oxycodone and hydrocodone pills, according to the Wall Street Journal. Mallinckrodt's branded drug business, which includes the controversial Acthar Gel, would not be affected.

Go deeper: Opioid company founder gets 5.5-year prison sentence

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Biden clarifies comments on African American and Latino communities

Joe Biden delivering a speech in Delaware in July. Photo: Mark Makela/Getty Images

Joe Biden explained on Twitter Thursday night what he "meant" by earlier comments suggesting that "the African American community is a monolith."

What they're saying: "Unlike the African-American community, with notable exceptions, the Latino community is an incredibly diverse community with incredibly different attitudes about different things," Biden remarked in an interview hosted by the National Association of Hispanic Journalists and the National Association for Black Journalists, Politico reports.

Updated 37 mins ago - Politics & Policy

Ohio Gov. Mike DeWine tests negative for coronavirus after positive result

Photo: Justin Merriman/Getty Images

Ohio Gov. Mike DeWine (R) tested negative for the coronavirus after initially testing positive earlier Thursday, his office announced.

Why it matters: 73-year-old DeWine was set to meet President Trump Thursday on the tarmac at an airport in Cleveland and was tested as part of standard protocol.

Updated 47 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 18,996,008 — Total deaths: 712,476— Total recoveries — 11,478,835Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m. ET: 4,877,115 — Total deaths: 159,990 — Total recoveries: 1,598,624 — Total tests: 59,652,675Map.
  3. Politics: Pelosi rips GOP over stimulus negotiations: "Perhaps you mistook them for somebody who gives a damn" — Ohio Gov. Mike DeWine tests positive.
  4. Public health: Majority of Americans say states reopened too quicklyFauci says task force will examine aerosolized spread Study finds COVID-19 antibodies prevalent in NYC health care workers.
  5. Business: The health care sector imploded in Q2More farmers are declaring bankruptcyJuly's jobs report could be an inflection point for the recovery.
  6. Sports: Where college football's biggest conferences stand on playing.