Tag Archives: Purdue Pharma

ABC News reports: The company and the once-prominent family behind the drug OxyContin agreed Thursday to increase their financial contribution to resolve mass opioid litigation. The Sacklers and Purdue Pharma boosted their settlement contribution to $7.4 billion after the U.S. Supreme Court overturned a prior settlement in June 2024. If approved, the new plan would end the costliest corporate bankruptcy …

Reuters reports: The U.S. Supreme Court on Monday is set to hear a challenge by President Joe Biden’s administration to the legality of OxyContin maker Purdue Pharma’s bankruptcy settlement, a deal that if approved would shield its wealthy Sackler family owners from lawsuits over their role in the country’s opioid epidemic. Purdue’s owners under the settlement would receive immunity in …

The Washington Post reports: More than two decades after Purdue Pharma launched its blockbuster pain pill OxyContin, preceding a deadly overdose crisis, a judge approved a bankruptcy plan Wednesday that will resolve thousands of lawsuits against the drugmaker and grant sweeping legal immunity to its billionaire owners. Negotiated until the 11th hour, the final terms of the settlement confirmed by …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …