Purdue Pharma LP pleaded guilty to three federal felonies related to the marketing and distribution of its powerful opioid painkiller OxyContin, ending the bankrupt company’s exposure to U.S. government action but leaving other liabilities to state and local governments looming. The guilty plea on Tuesday follows the approval last week by a U.S. bankruptcy court… Continue reading Purdue Pharma Pleads Guilty to Felonies Over OxyContin Sales
Tag: opioid litigation
Purdue Pharma Reaches $8.34B Settlement Over Opioid Probes
The Justice Department reached an $8.34 billion settlement with OxyContin-maker Purdue Pharma LP, the agency said Wednesday, helping clear the way for the bankrupt drugmaker to turn over future profits to cities and states that accuse it of fueling the opioid crisis. The settlement resolves yearslong criminal and civil probes by federal prosecutors into Purdue’s… Continue reading Purdue Pharma Reaches $8.34B Settlement Over Opioid Probes
Johnson & Johnson Adds $1B to Opioid Lawsuits Settlement Pool, Bringing Total to $5B
Johnson & Johnson appears to be nearing a final deal that could settle more than 2,000 lawsuits brought by states and cities that claim the company contributed to the opioid crisis by overselling the benefits of its painkillers. The U.S. drugmaker will pour an additional $1 billion into a potential settlement that would resolve those… Continue reading Johnson & Johnson Adds $1B to Opioid Lawsuits Settlement Pool, Bringing Total to $5B
States Seek $26.4 Billion from Drug Companies in Opioid Litigation
States are asking for around $26.4 billion from major pharmaceutical industry players to help pay for damage wrought by the opioid crisis, people familiar with the matter said, the latest demand in yearslong litigation seeking to hold companies accountable for widespread drug addiction. The current talks involve McKesson Corp., AmerisourceBergen Corp. and Cardinal Health Inc.,… Continue reading States Seek $26.4 Billion from Drug Companies in Opioid Litigation