A federal appeals court cleared the way for the maker of OxyContin to settle thousands of legal claims tied to the opioid epidemic while shielding the wealthy owners of Purdue Pharma, the Sackler family, from future lawsuits.
Tag: OxyCotin
Purdue Pharma Offers Plan to End Sackler Control and Mounting Lawsuits
In a filing that signifies the beginning of the end of the country’s most notorious manufacturer of prescription opioids, Purdue Pharma submitted its bankruptcy restructuring plan just before midnight on Monday. The blueprint requires members of the billionaire Sackler family to relinquish control of the company and transforms it into a new corporation with revenue… Continue reading Purdue Pharma Offers Plan to End Sackler Control and Mounting Lawsuits
Purdue Pharma Seeks Ruling on Its Right to Billions in Insurance Coverage
Purdue Pharma LP and some of its creditors want a judge to rule on their contention that they have rights to as much as $3.3 billion in insurance coverage as the OxyContin maker continues working on a plan to exit chapter 11 and recover proceeds to help address the opioid epidemic. Stamford, Conn.-based Purdue last… Continue reading Purdue Pharma Seeks Ruling on Its Right to Billions in Insurance Coverage
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
‘SELL BABY SELL’: Inside the Opioid Industry’s Marketing Machine
A dozen years ago, the federal government came down hard on Purdue Pharma, fining the drugmaker and three of its executives a record $634 million for misbranding its blockbuster OxyContin pill as safer and less addictive than other painkillers. In the decade leading up to the 2007 fine, Purdue helped change the culture of prescribing… Continue reading ‘SELL BABY SELL’: Inside the Opioid Industry’s Marketing Machine