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Purdue Pharma Reaches $6B Settlement With US States Over Thousands Of Opioid-Related Lawsuits Purdue Pharma Reaches $6B Settlement With US States Over Thousands Of Opioid-Related Lawsuits
Purdue Pharma Reaches $6B Settlement With US States Over Thousands Of Opioid-Related Lawsuits OxyContin creators Purdue Pharma and the Sackler family have reached a $6 billion settlement over their roles in the ongoing opioid crisis plaguing the country. The announcement comes following an earlier deal made with Purdue, headquartered in Stamford, Connecticut, that was ultimately appealed by eight states and the District of Columbia until the Sacklers kicked in more cash to get the deal done. Earlier story - NY, Other States Reach $4.5B Settlement With Purdue Pharma Over Its Role In Opioid Epidemic The $6 billion will be paid out over the course of 18 years, with larger payments fro…

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by Zak Failla
News
Hudson Valley Counties To Receive Up To $94 Million To Combat Opioid Crisis Hudson Valley Counties To Receive Up To $94 Million To Combat Opioid Crisis
Hudson Valley Counties To Receive Up To $94 Million To Combat Opioid Crisis Hudson Valley counties are set to receive up to $94 million to help combat the opioid crisis. New York Attorney General Letitia James said in an announcement on Tuesday, Oct. 5, that the funds come from settlements from a March 2019 lawsuit against the manufacturers and distributors responsible for the crisis. James shared a list of figures representing the minimum and maximum amounts each county could receive from settlements with Johnson & Johnson, McKesson, Cardinal Health, Amerisource Bergen, and Endo. Hudson Valley: $51,729,983.90 – $94,455,606.10 Dutchess County: $3,682,781.87 …

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by Nicole Valinote
News
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
Business
Stamford-Based Purdue Pharma Admits To Crimes, Facing Billions In Fines For Opioid Crisis Role Stamford-Based Purdue Pharma Admits To Crimes, Facing Billions In Fines For Opioid Crisis Role
Stamford-Based Purdue Pharma Admits To Crimes, Facing Billions In Fines For Opioid Crisis Role 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…

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by Zak Failla
Politics
New NY Attorney General Gaining Attention As Powerful New Trump Rival New NY Attorney General Gaining Attention As Powerful New Trump Rival
New NY Attorney General Gaining Attention As Powerful New Trump Rival New York Attorney General Letitia James has been turning as she continues to take the fight to President Donald Trump and his administration. Just months into her first term as Attorney General, James, a Democrat, has “emerged as one of the most aggressive and ambitious litigators in the country,” according to The Hill, citing several lawsuits she has filed against the commander-in-chief. Since taking office, James has launched investigations and probes into Purdue Pharma, the Sackler family, the NRA, and other special interests. She has also taken steps to ascertain Trump’s bank records an…

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by Zak Failla
News
NY Lawsuit Against Opioid Distributors Includes Billionaire Family Behind OxyContin NY Lawsuit Against Opioid Distributors Includes Billionaire Family Behind OxyContin
NY Lawsuit Against Opioid Distributors Includes Billionaire Family Behind OxyContin New York is taking on big pharmaceutical companies, announcing the “nation’s most comprehensive lawsuit against opioid distributors and manufacturers,” Attorney Letitia James said. James filed the lawsuit against the Sackler family, and other distributors, which are responsible for the widespread of OxyContin abuse, alleging that the drugmaker Purdue Pharma helped spark an opioid crisis that led to the deaths of thousands. The lawsuit, announced Thursday, March 28, alleges that through years of false and deceptive marketing, and by ignoring their duties to prevent the unlawful diversion of …

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by Zak Failla
News
Man Faces Felony After Dropping 'Heroin Spoon' At Purdue Pharma In Stamford Man Faces Felony After Dropping 'Heroin Spoon' At Purdue Pharma In Stamford
Man Faces Felony After Dropping 'Heroin Spoon' At Purdue Pharma In Stamford A Stamford art gallery owner was arrested for depositing an 800-pound steel sculpture of a bent heroin spoon in front of Purdue Pharma, according to multiple sources. Fernando Luis Alvarez was arrested about an hour after "installing" the spoon at 8:30 a.m. Friday and charged with obstruction of free passage and interfering with police, a felony, in front of the 201 Tresser Blvd. corporate headquarters, reported the Hartford Courant. Alvarez, whose Bedford Street gallery is opening an exhibit on the opioid crisis Friday night, was arrested because the spoon blocked an automatic en…

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by Kathy Reakes
Business
CT-Based OxyContin Manufacturer Lays Off Half Of Its Sales Staff CT-Based OxyContin Manufacturer Lays Off Half Of Its Sales Staff
Ct-based OxyContin Manufacturer Lays Off Half Of Its Sales Staff Purdue Pharma, the Stamford drug manufacturer that created the highly addictive painkiller OxyContin has laid off half of its 400-member sales team and will no longer promote the prescription drug to doctors. The news, announced with a flurry full-page ads by the drug company in the country’s largest newspapers, according to this report in The Hartford Courant, is part of a corporate campaign by Purdue to preserve the drug’s brand and its own, both of which are being blamed in part for the country’s spiraling opioid crisis. Last week, Westchester County filed a lawsuit against more than 30 o…

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by Jon Craig