OxyContin maker agrees to plead guilty to federal criminal charges in $8 billion settlement

OxyContin maker to plead guilty to federal criminal charges in $8 billion settlement

10/21/2020 6:40:00 PM

OxyContin maker to plead guilty to federal criminal charges in $8 billion settlement

Purdue Pharma, the company whose OxyContin painkiller that drove a nationwide opioid epidemic, has agreed to plead guilty to federal criminal charges as part of a settlement with the government that includes fines of more than $8 billion, the Justice Department announced Wednesday.

The settlement is the highest-profile display yet of the federal government seeking to hold a major drugmaker responsible for an opioid addiction and overdose crisis linked to more than 470,000 deaths in the country since 2000.The settlement comes less than two weeks before a presidential election where the opioid epidemic has taken a political back seat to the coronavirus pandemic and other issues. But the deal does give President Donald Trump’s administration an example of action on the addiction crisis, which he promised early in his term.

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As part of the resolution, Purdue will admit that it impeded the Drug Enforcement Administration by falsely representing that it had maintained an effective program to avoid drug diversion and by reporting misleading information to the agency to boost the company’s manufacturing quotas, officials said.

Purdue had been representing to the DEA that it had “robust controls” to avoid opioid diversion but instead had been “disregarding red flags their own systems were sending up,” authorities said.Purdue will also admit to violating federal anti-kickback laws by paying doctors, through a speaking program, to induce them to write more prescriptions for the company’s opioids and for using electronic health records software to influence the prescription of pain medication.

Purdue will make a direct payment to the government of $225 million, which is part of a larger $2 billion criminal forfeiture. In addition to that forfeiture, Purdue also faces a $3.54 billion criminal fine, though that money probably will not be fully collected because it will be taken through a bankruptcy, which includes a large number of other creditors. Purdue will also agree to $2.8 billion in damages to resolve its civil liability.

Purdue would transform into a public benefit company, meaning it would be governed by a trust that has to balance the trust’s interests against those of the American public and public health, the officials said. The Sacklers would not be involved in the new company and part of the money from the settlement would go to aid in medically assisted treatment and other drug programs to combat the opioid epidemic, the officials said. That arrangement mirrors a key element of the company’s proposal to settle about 3,000 lawsuits filed by state, local and Native American tribal governments.

The company is also required to cooperate with the ongoing federal investigation and potential other prosecutions. Read more: USA TODAY »

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Unless someone goes to jail it’s just the cost of doing business The timing on this is suspect. They plead guilty and pay $8b then write it off in taxes as a loss. No one loses right, the cycle of financial crimes continue. Oh yeah it’s an election year someone is getting paid for sure. Just guessing.

And nobody goes to jail...... Nice SHIT ! ! And nearly half a million people are worth $8B ? ! ? Come out to about $1700 for each death, which today won't even put them in the ground ! ! NICE ! ! Will any of that money be used to provide support and healthcare for the people who were affected and the families of those who died? Or will it just be pocketed by the government and spent on continuing to lock addicts up instead?

Not nearly enough money to cover damages done by Oxy’s. Do you trust big pharma with a vaccine? Who gets the $ tho , does it go into drug rehab facilities across the country or into someone else's crooked pocket Who's going to jail? I don't care about fines, they'll just be passed on to customers/patients in the form of higher prices. I want to know how many executives were charged with murder for profit.

I personally have NEVER heard trump talk about the opioid crisis. I know he ran on that promise in 2016, but what has the vile man actually done to fix the problem. Hell, trump is probably addicted to the pills himself. lol 1 PILL = A DIME OF HARD At last, extreme criminal negligence Who is serving prison time

OxyContin Maker Purdue Pharma Pleads Guilty In $8 Billion SettlementThe company helped fuel the opioid crisis through aggressive marketing of its powerful painkiller. wow They should be jailed. As Trump would say- “lock them up”! I want to say that they didn't shove it down anyones mouth and we make our decisions buuuuttttt we also listen to our doctors. Messed up and their bosses need to pay with more than money.

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OxyContin maker Purdue Pharma to plead guilty to 3 criminal charges - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Sure, but we need people going to jail, and hopefully in the same prison where Chapo Guzmán is. Major drug traffickers must face the same punishment. If the Military wants to take over. They can just talk it through NTA . All these Snipers and coordinated attacks are not necessary. Nigeria weeps .. A Government People used sweat and means to put into power turning against them. NEVER WILL AFFLICTION RISE A SECOND TIME LekkiGenocide Nigerians are being killed by the NIGERIAN GOVERNMENT. Help US... The Nigerian Army is killing its citizens

OxyContin Maker Purdue Pharma Pleads Guilty In $8 Billion SettlementThe company helped fuel the opioid crisis through aggressive marketing of its powerful painkiller. wow They should be jailed. As Trump would say- “lock them up”! I want to say that they didn't shove it down anyones mouth and we make our decisions buuuuttttt we also listen to our doctors. Messed up and their bosses need to pay with more than money.

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