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Pharmaceutical Industry

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Suffolk County Jury Finds Pharmaceutical Company Liable In Opioids Case Suffolk County Jury Finds Pharmaceutical Company Liable In Opioids Case
Suffolk County Jury Finds Pharmaceutical Company Liable In Opioids Case Teva Pharmaceuticals, the last remaining defendant in a New York trial against opioid defendants, has been found liable for creating a public nuisance through its manufacture, sale, and distribution of opioids. The verdict from a Long Island Supreme Court jury came Thursday, Dec. 30, after six months of testimony in a trial brought by the State Attorney's General Office, along with Nassau and Suffolk counties. “This is a significant day for New York state. This is a significant day for this nation. But, more importantly, this is a significant day for every family and community torn apart by…

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by Kathy Reakes
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Long Island Man Admits Scamming $3.5M From Investors Long Island Man Admits Scamming $3.5M From Investors
Long Island Man Admits Scamming $3.5M From Investors A Long Island man admitted on Monday, Nov. 1 that he scammed investors in a purportedly revolutionary new aspirin out of $3.5 million that he used as his own personal piggy bank. Donald A. Milne III, a 57-year-old repeat offender from Massapequa, defrauded more than 70 victims from throughout the country who thought they'd invested in Instaprin Pharmaceuticals, which he touted as a “fast-acting form of powdered aspirin that could instantly stop heart attacks and strokes," Acting US Attorney for the District of New Jersey Rachael A. Honig said. He used the money instead for a Caribbean vacat…

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by Jerry DeMarco
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NY, Other States Reach $4.5B Settlement With Purdue Pharma Over Its Role In Opioid Epidemic NY, Other States Reach $4.5B Settlement With Purdue Pharma Over Its Role In Opioid Epidemic
NY, Other States Reach $4.5B Settlement With Purdue Pharma Over Its Role In Opioid Epidemic New York is joining several other states in winning a multi-billion dollar settlement - one of the largest in the country’s history - with Purdue Pharma for its role in the opioid epidemic that has plagued the US for years. Gov. Andrew Cuomo announced a $4.5 billion settlement with the pharmaceutical company that will put them out of business after falsely marketing its products to get Americans hooked on opioids. The owners of Purdue Pharma, the Sackler family, will pay out a total of $4.325 billion over the next nine years, with New York State receiving approximately $200 million. Cuomo …

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by Zak Failla