India  

OxyContin maker to plead guilty in opioid probe

Video Credit: Reuters - Politics - Duration: 02:37s - Published
OxyContin maker to plead guilty in opioid probe

OxyContin maker to plead guilty in opioid probe

Purdue Pharma agreed to plead guilty to criminal charges over the handling of its addictive prescription opioid OxyContin, in a deal that comes with a $8.4 billion settlement but stops short of criminally charging its executives or wealthy Sackler family owners.

Conway G.

Gittens has more.

In a wide-ranging settlement with the Department of Justice, Purdue Pharma agreed to plead guilty to criminal charges over the handling of its addictive prescription opioid OxyContin, in a deal with U.S. prosecutors that stopped short of criminally charging its executives or wealthy Sackler family owners.

The criminal and civil settlement is related to the distribution of the painkiller, and its alleged role in contributing to an opioid epidemic that has killed more than 400,000 Americans since 1999.

U.S. Deputy Attorney General Jeffrey Rosen: "The global settlement announced today involves the company pleading guilty to three felony counts for defrauding the United States and violating the anti kickback statute from 2009 to 2017.

The corporate resolution is subject to the bankruptcy courts approval.

If it's approved, this will be a corporate settlement in total of more than $8.3 billion dollars.

Additionally, members of the Sackler family have agreed to pay $225 million dollars in a civil settlement that will provide civil releases only.” According to prosecutors, Purdue conspired to engage in criminal conduct over the years that kept medically questionable prescriptions of its opioids flowing.

None of the Sacklers nor any Purdue executives were criminally charged as part of the settlement.

Still, further changes are coming to Purdue and the Sackler Family's role with the company as a result of Wednesday's settlement.

"The agreed resolution, if approved by the court, will require that the company be dissolved and no longer exist in its present form.

It would require that the Sacklers must relinquish all ownership and control of the company or of any of its successors and the company's assets would be transferred to a new public benefit company.” But the agreement is under fire from critics who say Purdue, which racked in $30 billion in OxyContin sales over the years, and the Sackler Family are getting off with just slaps on the wrist.

There could, however, be more to come.

“It's also important to note that this resolution does not prohibit future criminal or civil penalties against Purdue Pharma executives or employees." And Purdue is still facing an onslaught of litigation tied to its alleged role in what the Trump administration has declared a public health emergency.




You Might Like


💡 newsR Knowledge: Other News Mentions

Purdue Pharma Purdue Pharma American pharmaceutical company

OxyContin Maker Purdue Pharma to Plead Guilty to 3 Federal Charges [Video]

OxyContin Maker Purdue Pharma to Plead Guilty to 3 Federal Charges

Justice Department officials made the announcement on Wednesday.

Credit: Cover Video STUDIO    Duration: 01:19Published

Oxycodone Oxycodone Opioid medication


Sackler family American billionaire family

OxyContin maker nears guilty plea in opioid probe [Video]

OxyContin maker nears guilty plea in opioid probe

[NFA] Purdue Pharma, the OxyContin maker controlled by members of the wealthy Sackler family, is nearing an agreement to plead guilty to criminal charges as part of a broader deal to resolve U.S. Justice Department probes into its alleged role in fueling the nation’s opioid crisis, several sources told Reuters exclusively. Conway G. Gittens has the details.

Credit: Reuters - Politics    Duration: 00:24Published

Jeffrey Rosen (legal academic) Jeffrey Rosen (legal academic) American legal scholar


United States Department of Justice United States Department of Justice U.S. federal executive department in charge of law enforcement

Election Crimes Chief Resigns After AG Barr Authorises Voter Fraud Probes [Video]

Election Crimes Chief Resigns After AG Barr Authorises Voter Fraud Probes

Richard Pilger was the director the Department of Justice's (DOJ) Election Crimes Branch.

Credit: Cover Video STUDIO    Duration: 01:06Published
The legal woes citizen Trump may face [Video]

The legal woes citizen Trump may face

[NFA] With Democrat Joe Biden capturing the presidency, Trump’s legal woes are likely to deepen when he loses the protections the U.S. legal system affords to a sitting president. Emma Jehle reports.

Credit: Reuters - Politics    Duration: 03:10Published
DOJ: Rapist found in Florida after more than 40 years as fugitive [Video]

DOJ: Rapist found in Florida after more than 40 years as fugitive

A convicted rapist has been arrested in Florida more than 40 years after skipping out on his Connecticut prison sentence and assuming a stolen identity.

Credit: ABC Action News    Duration: 01:22Published
On horse or on foot, voters so far peaceful at polls [Video]

On horse or on foot, voters so far peaceful at polls

[NFA] Some voted amid a power outage under the glow of lanterns. Others marched to the polls as part of a band. And a rare few even rode in on horseback to cast their ballots. By whatever means possible, massive numbers of Americans voted - and apparently in a peaceful manner. Lisa Bernhard produced this report.

Credit: Reuters - Politics    Duration: 02:19Published

Related videos from verified sources

NYU Strips Sackler Name, Science Program [Video]

NYU Strips Sackler Name, Science Program

New York University is expunging the Sackler name from its Graduate Biomedical Institute, a decision the school attributed to the family’s role in the ongoing opioid epidemic. The Sackler family owns..

Credit: Wochit     Duration: 00:37Published
Morning Business Report [Video]

Morning Business Report

Purdue Pharma, the maker of Oxycontin, has agreed to plead guilty to three federal criminal charges for its role in creating the nation's opioid crisis.

Credit: WMGTPublished
OxyContin maker Purdue Pharma to plead guilty to three criminal charges [Video]

OxyContin maker Purdue Pharma to plead guilty to three criminal charges

OxyContin maker Purdue Pharma to plead guilty to three criminal charges

Credit: nypost     Duration: 00:53Published