Tag: Purdue Pharma

Purdue Says Sacklers May Walk From Opioid Deal if Judge Does Not Block Cases

Members of the Sackler family could withdraw their pledge to pay $3 billion as part of a nationwide deal to address the opioid crisis if a bankruptcy judge does not block outstanding state lawsuits against them and their company, Purdue Pharma, Purdue lawyers said in a legal complaint. Whether the threat is posturing or real, […]

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We Didn’t Stand a Chance Against Opioids

My ancestors had no written language, so they told their stories to the trees. Ten thousand years after the Tlingit people settled Alaska’s southeastern archipelago, these islands remain stippled with monuments to their myths: totem poles, carved from massive logs of cedar and adorned with images of animals and spirits, rise up from the damp […]

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Would a Purdue Bankruptcy Protect the Sacklers? Good Question.

After months of negotiations and threats, Purdue Pharma has finally filed for bankruptcy. But it’s hardly a done deal. The bankruptcy filing is part of a settlement agreement that the company and its owners negotiated with lawyers for states and thousands of local governments that have struggled for years with the opioid crisis. They support […]

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Opioid Settlement Needs to Transform the Pharmaceutical Industry

Under siege from thousands of lawsuits from federal, state, and local governments for its role in the deadly opioid addiction crisis, drug manufacturer Purdue Pharma reached a tentative settlement with some of the plaintiffs last week. In the deal, Perdue would transform itself through the bankruptcy process from a typical, profit-chasing drugmaker into a “public […]

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The Case for a Public Option for the Drug Industry

Under siege from thousands of lawsuits from federal, state, and local governments for its role in the deadly opioid addiction crisis, drug manufacturer Purdue Pharma reached a tentative settlement with some of the plaintiffs last week. In the deal, Purdue would transform itself through the bankruptcy process from a typical, profit-chasing drugmaker into a “public […]

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Purdue Pharma Files for Chapter 11 Bankruptcy

Purdue Pharma, maker of OxyContin, the drug widely seen as igniting the opioid crisis, filed for Chapter 11 bankruptcy on Sunday night, a move at the center of the company’s efforts to shield itself and its owners from more than 2,600 federal and state lawsuits. The terms of the filing, which include a proposed resolution […]

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New York Uncovers $1 Billion in Sackler Family Wire Transfers

The New York attorney general’s office said Friday that it had tracked about $1 billion in wire transfers by the Sackler family, including through Swiss bank accounts, suggesting that the family tried to shield wealth as it faced a raft of litigation over its role in the opioid crisis. Earlier this week, thousands of municipal […]

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Purdue Pharma Settles Thousands of Opioids Cases

Purdue Pharma and its owners, members of the Sackler family, have tentatively reached the first comprehensive settlement with lawyers representing thousands of municipal governments, tribes and states nationwide that are suing the pharmaceutical industry for the devastation resulting from the opioid epidemic. The company is expected to file for Chapter 11 bankruptcy imminently. The settlement, […]

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Sacklers vs. States: Settlement Talks Stumble Over Foreign Business

Purdue Pharma’s negotiations to settle thousands of lawsuits over the company’s role in the opioids crisis have turned into a standoff between members of the Sackler family, who own the company, and a group of state attorneys general over how much the family should pay and whether it can continue selling drugs abroad. The Sacklers […]

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Punish Pharma, Not Patients

The decision on Monday by an Oklahoma judge to fine Johnson & Johnson $572 million for its role in the state’s opioid crisis is only the first step in what promises to be years of complex litigation. In ruling that pharmaceutical marketing caused a “public nuisance” by increasing addiction and overdose deaths, Judge Thad Balkman […]

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Big Pharma Is Starting to Pay for the Opioid Crisis. Make Those Payments Count.

In 1998 tobacco manufacturers reached an unprecedented agreement with 46 states, which had sued the companies for engaging in decades of deceptive marketing practices that contributed to an epidemic of tobacco-related illness and death. Over the next 20 years, the industry paid some $125 billion to the states. But two decades later, only a fraction […]

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Sacklers Would Give Up Ownership of Purdue Pharma Under Settlement Proposal

The Sackler family would give up ownership of Purdue Pharma, the company blamed for much of the opioid epidemic, and pay $3 billion of their own money under terms of a settlement proposal to resolve thousands of federal and state lawsuits, according to a person familiar with the negotiations. The discussions have been going on […]

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Johnson & Johnson’s Brand Falters Over Its Role in the Opioid Crisis

In the 1980s, Johnson & Johnson needed a reliable supply of opium for a popular product, Tylenol with codeine. So the health care conglomerate, better known for baby shampoo and Band-Aids, bought a business that grew and processed opium poppies in faraway Tasmania, off the coast of Australia. By 2015, at the height of the […]

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A Nun, a Doctor and a Lawyer — and Deep Regret Over the Nation’s Handling of Opioids

PENNINGTON GAP, Va. — Years before there was an opioid epidemic in America, Sister Beth Davies knew it was coming. In the late 1990s, patient after patient addicted to a new prescription painkiller called OxyContin began walking into the substance abuse clinic she ran in this worn Appalachian town. A local physician, Dr. Art Van […]

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No Pre-Reading, No Rehearsing: How ‘The Weekly’ Kept Its Recreation of Historic Opioid Testimony Authentic

Video CreditCredit“The Weekly”/The New York Times/FX/Hulu Times Insider explains who we are and what we do, and delivers behind-the-scenes insights into how our journalism comes together. The parents, grandparents, husbands and wives came forward one by one to testify. In a federal courtroom in western Virginia, they told a judge about children lost to deadly […]

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A Secret Opioid Memo That Could Have Slowed an Epidemic

Episode 10: ‘The Memo’ Producer/Director John Pappas A confidential government document containing evidence so critical it had the potential to change the course of an American tragedy was kept in the dark for more than a decade. The document, known as a “prosecution memo,” details how government lawyers believed that Purdue Pharma, the maker of […]

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New York Subpoenas Banks, Financial Advisers for Sackler Records

The New York state attorney general has begun issuing subpoenas to 33 financial institutions and investment advisers with ties to the Sackler family, part of an aggressive effort to track billions of dollars that prosecutors claim the family siphoned out of Purdue Pharma to hide profits gained from the company’s opioid painkillers. The recipients of […]

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Arizona Files Novel Lawsuit in Supreme Court Over Opioid Crisis

WASHINGTON — Saying the opioid crisis requires bold measures, the state of Arizona filed an audacious lawsuit in the Supreme Court on Wednesday asking the justices to order members of the Sackler family, which owns Purdue Pharma, to return what the state said were billions of dollars looted from the company. “We want the Supreme […]

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McKinsey Advised Johnson & Johnson on Increasing Opioid Sales

At the global consulting firm McKinsey & Company, the rule is sacrosanct: Never publicly disclose client advice. And for the most part, adherence to that rule has served the company well. But in recent months, as government officials seek to assign blame for the opioid crisis that has strangled large parts of the nation, McKinsey’s […]

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Is Josh Hawley For Real?

Missouri’s Josh Hawley is as close as the U.S. Senate gets to the Facebook generation. At 39, he’s young enough to have used Hotmail as a teenager and Friendster as a young adult. But his views on the tech industry are those of a curmudgeon. As Missouri’s attorney general, he launched an antitrust probe against […]

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