Purdue Pharma

OxyContin maker to be replaced by new company aiming to combat opioid crisis as legal settlement takes effectOxyContin maker Purdue Pharma is set to be dissolved and replaced by a company focused on the public good by the week’s end, as a sweeping legal settlement resolving thousands of lawsuits takes effect.A federal judge on Tuesday delivered a criminal sentence to the company to resolve a US Department of Justice investigation – a last necessary step to clear the way for the settlement. Continue reading...

Under settlement, Sackler family will pay state, local and Native American tribal governments, individual victims and othersSign up for the Breaking News US email to get newsletter alerts in your inboxA judge is expected to sentence OxyContin maker Purdue Pharma to forfeit $225m to the US justice department on Tuesday, clearing the way for the company to finalize a settlement of thousands of lawsuits it faces over its role in the opioid crisis.The penalty was agreed to in a 2020 pact to resolve federal civil and criminal investigations it was facing. If the judge signs off, other penalties will not be collected in return for Purdue settling the other lawsuits. Continue reading...