World News – US – Purdue Pharma agrees to plead guilty to OxyContin marketing

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Purdue Pharma, the drugmaker accused of helping spark America’s staggering opioid crisis, has agreed to plead guilty to criminal charges in an $ 8 billion of regulation on its marketing of OxyContin, revealed Wednesday the Department of Justice

The company has agreed to pay massive fines and admit criminal liability, but company executives and the Sackler family, owners of Purdue Pharma, do not admit any foul play in the deal However, the regulations do not protect them from possible criminal liability in the future.

Company to Pay $ 225 Million in Larger $ 2 Billion Criminal Forfeiture, Justice Department Statement Says In addition to that confiscation, Purdue faces $ 3.54 billion criminal fine and agreed to a civil settlement of $ 2.8 billion, according to statement Sackler family members separately agreed to pay $ 225 million to resolve civil fines

The company has admitted three counts of defrauding the federal government by deceiving regulators about its efforts to curb overprescribing the drug and violating anti-bribery laws by paying doctors to they write more prescriptions for OxyContin The flood of opioids has resulted in massive health care costs to deal with addictions and death

The total amount the government could ask for under the civil and criminal fines deal is $ 8.3 billion, but the Department of Justice will not ask Purdue for more than $ 225 million. he agrees to reorganize into a public utility company The fine against family members is separate

Steve Miller, who joined Purdue’s board of directors as chairman in July 2018, said in a statement that the company « deeply regrets and accepts responsibility for the misconduct detailed by the Department of Justice in the agreed statement of facts »

“Resolving the DOJ’s investigations is a critical step in our bankruptcy process,” Miller said “Settlement agreement will pave way for Purdue to submit reorganization plan to bankruptcy court which will transfer all of Purdue’s assets to a public utility and ultimately will bring in over $ 10 billion to claimants and communities »

The reorganized company, under the deal, would donate or offer major discounts on overdose medications and rescue treatments to help communities ravaged by the opioid crisis The Sackler family n ‘would have no connection with the reconstituted company

Purdue agreed to admit that for a decade, from 2007 to 2017, she told the Drug Enforcement Administration that she had an effective program to ensure that OxyContin was not diverted to inappropriate sales In fact, the government said, the company continued to supply opioids to more than 100 health care providers that it had good reason to believe was overprescribing.

In a statement, members of the Sackler family who have served on Perdue’s board said they « have acted ethically and legally, and the upcoming release of company documents will prove that fact. in detail This story from Purdue will also demonstrate that all financial distributions were correct « 

« We came to agreement today to facilitate a global resolution that directs substantial funds to communities in need, rather than years of legal proceedings This motion for a resolution includes abandonment from our Purdue property and has been valued at between $ 10 billion and $ 12 billion – more than double all Purdue profits the Sackler family has kept since the introduction of OxyContin »

Deputy Attorney General Jeffrey Rosen, who announced the settlement, said it involves « one of the most important players in the prescription opioid supply chain, at the manufacturer level »He said if approved by bankruptcy court, it » will right the wrongs of the past and also provide extraordinary new resources for the treatment and care of those affected by opioid addiction « 

Purdue faces hundreds of other lawsuits and bankruptcy claims, but the company said it will seek a resolution with the Department of Justice before dealing with others The company has proposed a global settlement of around $ 10 billion

Some state officials said the Justice Department’s deal did not go far enough Massachusetts Attorney General Maura Healey said he was ignoring society and the Sackler family « Justice in this case requires exposing the truth and holding the perpetrators accountable, not rushing a settlement to beat an election »

Pete Williams is an NBC News correspondent covering the Justice Department and the Supreme Court, based in Washington

Purdue Pharma

World News – US – Purdue Pharma Agrees to Plead Guilty on OxyContin Marketing



SOURCE: https://www.w24news.com/news/world-news-us-purdue-pharma-agrees-to-plead-guilty-to-oxycontin-marketing/?remotepost=447941

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