Citing mounting costs of litigation that are siphoning funds that could otherwise go to abate the opioid crisis, a bankruptcy judge on Friday ordered a pause in legal action by states against Purdue Pharma and its owners, the Sacklers. The ruling was a setback for 25 states that have forcefully opposed a national opioid settlement… Continue reading Judge Orders Pause in Opioid Litigation Against Purdue Pharma and Sacklers’ Image
Tag: Big pharma
Purdue Settlement Hinges on Deal with Justice Department, Documents Show
OxyContin maker Purdue Pharma LP’s plan to turn over its operations to creditors and see its owners, the Sacklers, exit the opioid business is contingent on first resolving U.S. Justice Department probes, court filings show. The disclosure emerged late Tuesday in a proposed term sheet Purdue filed in U.S. Bankruptcy Court in New York that… Continue reading Purdue Settlement Hinges on Deal with Justice Department, Documents Show
Sacklers Reaped Up to $13B from OxyContin Maker, U.S. States Say
OxyContin maker Purdue Pharma LP steered up to $13 billion in profits to the company’s controlling Sackler family, according to U.S. states opposing efforts to halt lawsuits alleging the company and its owners helped fuel the U.S. opioid epidemic. The wealthy Sacklers received the money from Purdue during an unspecified time frame, according to court… Continue reading Sacklers Reaped Up to $13B from OxyContin Maker, U.S. States Say
Johnson & Johnson Agrees to Settle Ohio Opioid Lawsuits for $20.4 Million
Johnson & Johnson on Tuesday said it has agreed to a $20.4 million deal to avoid an upcoming trial accusing the company of helping spark an opioid-addiction crisis in two Ohio counties. The settlement makes J&J the fourth drugmaker to reach such a deal ahead of the trial, slated to begin later this month in… Continue reading Johnson & Johnson Agrees to Settle Ohio Opioid Lawsuits for $20.4 Million
OxyContin Maker Purdue Pharma Files for Bankruptcy Protection
Purdue Pharma LP filed for bankruptcy protection Sunday night with a partial deal aimed at resolving thousands of lawsuits filed by states and municipalities accusing it of fueling the opioid crisis. The filing, made in federal bankruptcy court in White Plains, N.Y., marks a remarkable downfall for the closely held company started more than five… Continue reading OxyContin Maker Purdue Pharma Files for Bankruptcy Protection
Purdue Pharma in Talks to Resolve Opioid Cases through Bankruptcy
OxyContin maker Purdue Pharma LP and its owners, the Sackler family, are in talks with state and local governments to resolve more than 2,000 opioid cases in a deal valued at between $10 billion and $12 billion, according to people familiar with the matter. The discussions, part of a mediation to end the mounting litigation… Continue reading Purdue Pharma in Talks to Resolve Opioid Cases through Bankruptcy
Judge Rules Johnson & Johnson Must Pay Over $572M for Its Role in Oklahoma Opioid Crisis
An Oklahoma judge on Monday ordered Johnson & Johnson to pay over $572 million for pushing doctors to prescribe opioids while downplaying the risks of addiction, actions that state prosecutors said helped fuel the state’s opioid epidemic andled to more than 6,000 deaths over nearly two decades. Oklahoma Attorney General Mike Hunter claimed in court… Continue reading Judge Rules Johnson & Johnson Must Pay Over $572M for Its Role in Oklahoma Opioid Crisis
Federal Data Shows Opioid Shipments Ballooned as Crisis Grew
Newly released federal data shows how drugmakers and distributors increased shipments of opioid painkillers across the U.S. as the nation’s addiction crisis accelerated from 2006 to 2012. The data, released this week by a federal court in Ohio as part of a far-reaching opioids case, shows that companies distributed 8.4 billion hydrocodone and oxycodone pills… Continue reading Federal Data Shows Opioid Shipments Ballooned as Crisis Grew
Drugmaker Agrees to Pay $1.4B in Largest Opioid Settlement in US History
A drug manufacturer will pay the U.S. government $1.4 billion to settle allegations that its marketing downplayed the addiction risks of its drugs, the largest settlement yet related to the opioid crisis. Reckitt Benckiser Group, the manufacturer of Suboxone, a treatment for opioid addiction, agreed to the settlement to end criminal and civil probes into… Continue reading Drugmaker Agrees to Pay $1.4B in Largest Opioid Settlement in US History
Abating Oklahoma’s Opioid Epidemic is Projected to Cost More than $17.5B
The state of Oklahoma unveiled a 30-year plan to abate Oklahoma’s opioid epidemic Friday that would carry a hefty price tag of more than $17.5 billion. The detailed abatement plan was slowly revealed Friday during Day 19 of testimony in a trial in Cleveland County District Court where Oklahoma Attorney General Mike Hunter has accused… Continue reading Abating Oklahoma’s Opioid Epidemic is Projected to Cost More than $17.5B