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Pharmaceutical Industry

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NY Jury Finds Pharmaceutical Company Liable In Opioids Case NY Jury Finds Pharmaceutical Company Liable In Opioids Case
NY 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
Business
Closure By Company In Area To Result In 72 Layoffs Closure By Company In Area To Result In 72 Layoffs
Closure By Company In Area To Result In 72 Layoffs Dozens of employees at a Hudson Valley company will be out of a job as the plant plans to move its operations out of state within the next two years. In Putnam County, Carmel-based Silarx Pharmaceuticals, which has been a fixture in the region for more than six years, filed papers with the state with the intention to transfer production to a facility in Indiana. The move will result in layoffs for all 72 of the pharmaceutical company’s employees, who are expected to be let go between March 2022 and June 2023, when it plans to move out of the Hudson Valley. Silarx Pharmaceuticals was founde…

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by Zak Failla
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