More than a year after OxyContin maker Purdue Pharma reached a tentative settlement over the toll of opioids hat was accepted nearly universally by the groups suing the company money is still not rolling out.
Tag: OxyContin
Purdue’s Sacklers Consider Adding Another $1 Billion to Opioid Settlement
According to people familiar with the talks, members of the billionaire Sackler family, who own Purdue Pharma LP, are debating whether to add $1 billion to the OxyContin maker’s faltering opioid settlement bid in an effort to win over holdouts. The move would bring the family’s total contribution to $5.325 billion to get a handful… Continue reading Purdue’s Sacklers Consider Adding Another $1 Billion to Opioid Settlement
Judge Overturns Deal Giving Purdue Pharma’s Sackler Family Civil Immunity from Opioid Claims
The billionaire Sackler family that created the company could not be released from legal claims over the opioid epidemic, according to a federal judge who has upended the bankruptcy plan of OxyContin maker Purdue Pharma. In a 142-page ruling, U.S. District Judge Colleen McMahon in New York said that the controversial provision to grant the… Continue reading Judge Overturns Deal Giving Purdue Pharma’s Sackler Family Civil Immunity from Opioid Claims
U.S. Judge Grants Purdue Pharma’s $7M Exec Bonus Plan, Faces Blunt Criticism
A U.S. judge on Monday approved up to $7.1 million in bonuses for five executives of Purdue Pharma, the bankrupt maker of OxyContin, at a hearing at which he faced blunt criticism for his handling of the case from a woman whose son died of an opioid overdose. U.S. Bankruptcy Judge Robert Drain in White… Continue reading U.S. Judge Grants Purdue Pharma’s $7M Exec Bonus Plan, Faces Blunt Criticism
Purdue Pharma Bankruptcy Plan Approved, Freeing Sacklers from Lawsuits
OxyContin maker Purdue Pharma LP won court approval of a $4.5 billion bankruptcy settlement that shields its owners, members of the Sackler family, from lawsuits accusing them of contributing to the nation’s opioid epidemic in exchange for providing funding to combat the crisis. Judge Robert Drain of the U.S. Bankruptcy Court in White Plains, N.Y.,… Continue reading Purdue Pharma Bankruptcy Plan Approved, Freeing Sacklers from Lawsuits
Ruling on Purdue Pharma Opioid Settlement Pushed Back to Next Week
A U.S. judge said on Thursday he now anticipates a ruling on OxyContin maker Purdue Pharma LP’s bankruptcy reorganization plan on Wednesday of next week instead of this week because he needs more oral argument on certain issues. U.S. Bankruptcy Judge Robert Drain was originally expected to rule on Friday, Aug. 27. Drain did not… Continue reading Ruling on Purdue Pharma Opioid Settlement Pushed Back to Next Week
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