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OxyContin maker Purdue Pharma agrees to plead guilty in $8B opioid settlement
Deal does not release any of the company’s executives or owners — members of the wealthy Sackler family — from criminal liability
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By Evie FordhamFOXBusiness
Ohio AG on urdue Pharma bankruptcy
Ohio Attorney General David Yost on Purdue Pharma's bankruptcy and vaping-related illnesses.
OxyContin maker Purdue Pharma has agreed to plead guilty to three federal criminal charges as part of a settlement of more than $8 billion, Justice Department officials announced Wednesday.
Purdue Pharma is expected to plead guilty to one count of dual-object conspiracy for defrauding the U.S. and to violate the Food, Drug, and Cosmetic Act and two counts of conspiracy to violate the Federal Anti-Kickback Statute. The criminal resolution includes a criminal fine of more than $3.5 billion and $2 billion in criminal forfeiture, plus a civil settlement of $2.8 billion.
The deal does not release any of the company’s executives or owners — members of the wealthy Sackler family — from criminal liability. A criminal investigation is ongoing.
The company is in the middle of bankruptcy proceedings, and a bankruptcy court would need to approve the settlement.
PHARMACIES SAY PRESCRIBERS BEAR OPIOID CRISIS RESPONSIBILITY
"The agreed resolution, if approved by the courts, will require that the company be dissolved and no longer exist in its present form," Deputy Attorney General Jeffrey Rosen said at a news conference.
Comments
By Evie FordhamFOXBusiness
Ohio AG on urdue Pharma bankruptcy
Ohio Attorney General David Yost on Purdue Pharma's bankruptcy and vaping-related illnesses.
OxyContin maker Purdue Pharma has agreed to plead guilty to three federal criminal charges as part of a settlement of more than $8 billion, Justice Department officials announced Wednesday.
Purdue Pharma is expected to plead guilty to one count of dual-object conspiracy for defrauding the U.S. and to violate the Food, Drug, and Cosmetic Act and two counts of conspiracy to violate the Federal Anti-Kickback Statute. The criminal resolution includes a criminal fine of more than $3.5 billion and $2 billion in criminal forfeiture, plus a civil settlement of $2.8 billion.
The deal does not release any of the company’s executives or owners — members of the wealthy Sackler family — from criminal liability. A criminal investigation is ongoing.
The company is in the middle of bankruptcy proceedings, and a bankruptcy court would need to approve the settlement.
PHARMACIES SAY PRESCRIBERS BEAR OPIOID CRISIS RESPONSIBILITY
"The agreed resolution, if approved by the courts, will require that the company be dissolved and no longer exist in its present form," Deputy Attorney General Jeffrey Rosen said at a news conference.
OxyContin maker Purdue Pharma agrees to plead guilty in $8B opioid settlement | Fox Business
OxyContin maker Purdue Pharma has agreed to plead guilty to three federal criminal charges as part of a settlement of more than $8 billion, Justice Department officials announced Wednesday.
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