purdue pharma lp: Purdue Pharma to plead guilty and pay $8.3 billion over opioids

New York: Purdue Pharma LP will plead guilty to three felonies and pay $8.3 billion to settle federal probes of how it marketed OxyContin, the addictive painkiller blamed for helping to spark the opioid epidemic.

The company’s owners, members of the billionaire Sackler family, will pay $225 million in a civil settlement with the Department of Justice, court papers and U.S. officials said.

The agreement resolves the federal government’s criminal and civil investigations, according to a filing Wednesday in bankruptcy court in New York.

Investigations by states including New York and Massachusetts will continue. The settlement is likely to boost Purdue’s effort to move past claims it helped spark a public-health crisis over opioids with its marketing of OxyContin.

Yet the company still faces thousands of civil claims by local and state officials, for which Purdue has proposed a separate $10 billion settlement. Governments are seeking reimbursement from Purdue and others for tax dollars spent coping with the crisis.

Source link

Related posts

Natco Pharma aims to diversify product portfolio in domestic market


Some signs AstraZeneca vaccine durability could be a year: Chief investigator


Since March, 331 Covid+ve women gave birth at LNJP