Members of the billionaire Sackler family and their company, Purdue Pharma, have reached a deal with a group of states that had long resisted the company’s bankruptcy plan — a crucial step toward funneling billions of dollars from the family’s fortune to addiction treatment programs nationwide, according to a court filing on Thursday. If Judge… Continue reading Sacklers and Purdue Pharma Reach New Deal with States Over Opioids
Tag: opioid crisis
Philadelphia Has Joined a $1 Billion Opioid Settlement with Every Pa County
After criticizing the national opioid settlement, Philadelphia officials, along with those from every other county in Pennsylvania, signed on to the agreement, which is expected to deliver $1 billion to the state for drug treatment and prevention and end one chapter of legal wrangling over the deadly and decades-long opioid crisis. After months of pushback… Continue reading Philadelphia Has Joined a $1 Billion Opioid Settlement with Every Pa County
Purdue Pharma Seeks to Appeal Ruling Overturning Opioid Settlement, Liability Shield
According to a court filing late Thursday, Purdue Pharma is seeking to appeal to the 2nd U.S. Circuit Court of Appeals a judge’s decision to unravel its restructuring plan, which would have shielded its owners from liability in civil opioid-related cases. The appeal came after U.S. Bankruptcy Judge Robert Drain in White Plains, New York,… Continue reading Purdue Pharma Seeks to Appeal Ruling Overturning Opioid Settlement, Liability Shield
Purdue’s Sackler: Family Has ‘Responsibility’ to Help Curb Opioid Crisis but Wants Liability Shields
A member of the Sackler family that owns Purdue Pharma testified on Tuesday that his family bears a “moral responsibility” to help abate the U.S. opioid crisis but said it will not contribute financially to the effort unless it receives broad legal protections. The OxyContin maker last week kicked off its long-awaited bankruptcy trial over… Continue reading Purdue’s Sackler: Family Has ‘Responsibility’ to Help Curb Opioid Crisis but Wants Liability Shields
15 States Reach Deal with Purdue Pharma Toward $4.5B Opioid Settlement
More than a dozen states have dropped their objections to a bankruptcy plan by Purdue Pharma that would shift the OxyContin producer toward giving more money to help fight the opioid crisis in the United States. The decision by 15 states was outlined in new documents filed by a mediator in the case and shows… Continue reading 15 States Reach Deal with Purdue Pharma Toward $4.5B Opioid Settlement
Opioid Use Hits Construction Industry as Overdoses Soar
Mark St. Cyr, a construction superintendent in the Pittsburgh area, often sees telltale signs of opioid use among workers at sites where he works. “If I’m supervising 10 guys, two or three will be using almost every day,” said Mr. St. Cyr, who is 57 years old and in recovery from his own opioid addiction.… Continue reading Opioid Use Hits Construction Industry as Overdoses Soar
Documents Show Sacklers Cited Fear of OxyContin Lawsuits before Transferring $10B from Company
Members of the wealthy Sackler family, owners of OxyContin maker Purdue Pharma LP, have long denied that the $10 billion they transferred from their company over the course of a decade was an unlawful attempt to shield assets in anticipation of litigation over their role in the opioid crisis. But a review of emails, memos,… Continue reading Documents Show Sacklers Cited Fear of OxyContin Lawsuits before Transferring $10B from Company
OxyContin Maker Purdue Pharma to Plead to Three Criminal Charges
Drugmaker Purdue Pharma, the company behind the powerful prescription painkiller OxyContin that experts say helped touch off an opioid epidemic, will plead guilty to federal criminal charges as part of a settlement of more than $8 billion, the Justice Department announced Wednesday. The deal does not release any of the company’s executives or owners —… Continue reading OxyContin Maker Purdue Pharma to Plead to Three Criminal Charges
Feds Seek Multibillion-Dollar Payout from OxyContin-Maker Purdue Pharma
U.S. Department of Justice officials are reportedly seeking up to $18 billion from bankrupt OxyContin-maker Purdue Pharma, which is trying to settle thousands of lawsuits that allege its marketing fueled the national opioid crisis. The Justice Department has valued its civil claims at $2.8 billion — an amount that could be legally tripled — and… Continue reading Feds Seek Multibillion-Dollar Payout from OxyContin-Maker Purdue Pharma
Insurance and Medicine Working Together on the Opioid Crisis
The Addiction Epidemic The opioid crisis is often talked about, especially during election seasons. Politicians and their parties bandy the phrase about with faces of grim concern, but how serious is it really? It is indeed very serious: between 2015 and 2025 it is estimated there will have been over 700,000 deaths from overdoses on… Continue reading Insurance and Medicine Working Together on the Opioid Crisis