Tag Archives: Purdue Pharma

OxyContin Maker Pleads Guilty In $8.3B Settlement

The New York Times reports: Purdue Pharma, the maker of OxyContin, has agreed to plead guilty to criminal charges of defrauding federal health agencies and violating anti-kickback laws, and faces penalties of roughly $8.3 billion, the Justice Department announced on Wednesday. The company’s owners, members of the wealthy Sackler family, will pay $225 million in civil penalties. Still, it is …

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States Seek $2.2 Trillion From Oxycontin Maker Purdue

Reuters reports: U.S. states claimed they are owed $2.2 trillion to address harm from OxyContin maker Purdue Pharma LP’s alleged role in America’s opioid epidemic, accusing the drugmaker in new filings of pushing prescription painkillers on doctors and patients while playing down the risks of abuse and overdose. In filings made as part of Purdue’s bankruptcy proceedings that were disclosed …

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Oxycontin Kingpin Jonathan Sackler Dies At Age 65

The Associated Press reports: Jonathan Sackler, one of the owners of OxyContin maker Purdue Pharma, has died, the company confirmed. Sackler died June 30, according to a court filing. He was 65 and the cause of death was cancer. He was the son of Raymond Sackler, one the brothers who bought drug company Purdue Frederick in 1952, and served as …

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Opioid Family Siphoned $10B From Pharma Company

The New York Times reports: As scrutiny of Purdue Pharma’s role in the opioid epidemic intensified during the past dozen years, its owners, members of the Sackler family, withdrew more than $10 billion from the company, distributing it among trusts and overseas holding companies, according to a new audit commissioned by Purdue. The amount is more than eight times what …

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Opioid Maker Purdue Pharma Files For Bankruptcy

The New York Times reports: Purdue Pharma, maker of OxyContin, the drug widely seen as igniting the opioid crisis, filed for Chapter 11 bankruptcy on Sunday night, a move at the center of the company’s efforts to shield itself and its owners from more than 2,600 federal and state lawsuits. The terms of the filing, which include a proposed resolution …

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NY AG Busts Opioid Family For Hiding $1B Overseas

The Associated Press reports: The family that owns OxyContin maker Purdue Pharma used Swiss and other hidden accounts to transfer $1 billion to themselves, New York state’s attorney general contends in court papers filed Friday. New York — asking a judge to enforce subpoenas of companies, banks and advisers to Purdue and its owners, the Sackler family — said it …

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Opioid Dealer Purdue To Pay $12B, Declare Bankruptcy

The Associated Press reports: Attorneys for some 2,000 local governments say they have agreed to a tentative settlement with OxyContin maker Purdue Pharma over the toll of the nation’s opioid crisis. Attorney Paul Farrell said in a text message Wednesday that they have agreed to a deal that has been on the table for several weeks. Sources with direct knowledge …

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New York Hits Opioid Maker Family With Massive Suit

CBS News reports: New York state prosecutors on Thursday filed a lawsuit against Purdue Pharma and the family that owns the OxyContin-maker, alleging they fraudulently transferred funds out of the company. The complaint also adds charges previously filed against other companies that made and distributed opioids. “We found that pharmaceutical manufacturers and distributors engaged in years of deceptive marketing about …

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Purdue Pharma Settles First Opioid Suit For $270M

The Daily Beast reports: Purdue Pharma and its owners, the Sackler family, will pay $270 million to settle claims by the Oklahoma attorney general that the company helped fuel America’s opioid crisis, The Wall Street Journal reports. It’s the first settlement to be agreed upon from more than 1,600 opioid lawsuits the OxyContin maker faces various from states, cities, and …

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Opioid Maker Purdue Readies Bankruptcy Over Lawsuits

Reuters reports: OxyContin maker Purdue Pharma LP is exploring filing for bankruptcy to address potentially significant liabilities from thousands of lawsuits alleging the drug manufacturer contributed to the deadly opioid crisis sweeping the United States, people familiar with the matter said on Monday. The deliberations show how Purdue and its wealthy owners, the Sackler family, are under pressure to respond …

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Lawsuit: Pharma Giant Considered Targeting “Attractive Market” Of People Addicted To Their Opioids [VIDEO]

NBC News reports: As the nation’s opioid crisis was deepening, the company that makes a powerful prescription painkiller considered marketing an anti-addiction drug to “an attractive market” of people with addictions, according to allegations in court documents made public Thursday. The attorney general’s office in Massachusetts is suing Connecticut-based Purdue Pharma, along with some company executives and members of the …

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