What happened to Purdue Pharma?

What happened to Purdue Pharma?

Credit… Purdue Pharma, the maker of the highly addictive painkiller OxyContin, was dissolved on Wednesday in a wide-ranging bankruptcy settlement that will require the company’s owners, members of the Sackler family, to turn over billions of dollars of their fortune to address the deadly opioid epidemic.

How much will the Purdue Pharma settlement pay out?

(CNN) A US bankruptcy judge approved the settlement that Purdue Pharma and the Sackler families reached with a group of states that will require the Sacklers to pay out as much as $6 billion to states, individual claimants and opioid crisis abatement, Connecticut Attorney General William Tong announced Wednesday.

Did Purdue Pharma boss send emails about OxyContin sales to boost profits?

Sackler was directed by attorneys to emails admitted as evidence he’d sent about sales and marketing efforts to boost OxyContin profits during his tenure at Purdue Pharma. But he said he couldn’t remember sending them.

Is Purdue Pharma in Chapter 11?

STAMFORD, Ct. – Purdue Pharma L.P. today announced preliminary voting results that show overwhelming support for its chapter 11 plan of reorganization (“The Plan”). More than 95% of the 120,000-plus…

Are pudue Pharma and the Sacklers protected from future civil lawsuits?

As part of the agreement, Pudue Pharma and the Sacklers will be protected from any future civil lawsuits.

How much money will Purdue Pharma make from the opioid crisis?

Purdue will make initial payments of roughly $500 million. Additional funds will come from anticipated profits from the new company’s drugs, including addiction-reversal medications as well as OxyContin. States will get money from a national opioid abatement trust, which they will distribute to their local governments.