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43°
Friday, may 31
Tag:
Legal settlements
News
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 …
Business
Purdue Pharma Admits To Crimes, Facing Billions In Fines For Opioid Crisis
Purdue Pharma, the maker of OxyContin, has agreed to pay billions of dollars in fines and will plead guilty to federal criminal charges for its role in the nation’s opioid crisis. The Fairfield County-based Connecticut company agreed to plead guilty in federal court in New Jersey to a three-count indictment that includes one count of dual-object conspiracy to defraud the United States and to violate the Food, Drug, and Cosmetic Act, and two counts of conspiracy to violate the Federal Anti-Kickback Statute. As part of the agreement, Purdue Pharma, whose headquarters is in Stamford, will…