Purdue Pharma
| Use attributes for filter ! | |
| Ceo | Craig Landau |
|---|---|
| Headquarters | Stamford |
| Connecticut | |
| United States | |
| Founded | 1892 |
| Revenue | 3 billion USD (2017) |
| Founders | John Purdue Gray |
| George Frederick Bingham | |
| Subsidiaries | Purdue Pharma Inc. |
| Imbrium Therapeutics L. P. | |
| Date of Reg. | |
| Date of Upd. | |
| ID | 1046077 |
About Purdue Pharma
Purdue Pharma L. P. is a privately held pharmaceutical company owned principally by descendants of Mortimer and Raymond Sackler. In 2007 it paid out one of the largest fines ever levied against a pharmaceutical firm for mislabeling its product OxyContin, and three executives were found guilty of criminal charges.
University of Oxford drops Sackler name from buildings
... The family has links to Purdue Pharma, the maker of OxyContin painkiller that has been hit with lawsuits in the US...
All The Beauty and the Bloodshed film explores Sackler scandal
... The Sackler-owned company, Purdue Pharma, which manufactures OxyContin, reached a settlement this year with several US states for its role in the US opioid crisis...
New York's Met museum to remove Sackler name from exhibits
...New York City s Metropolitan Museum of Art and Sackler family members have announced the famed museum will drop their name, linked to opioid-maker Purdue Pharma, from its exhibit halls...
Purdue Pharma 'reaches tentative agreement' to settle opioid cases
...The company has made billions from products like painkiller OxyContin Drug-making giant Purdue Pharma has reportedly reached a tentative multi-billion dollar agreement in the US to settle a host of lawsuits against it...
Johnson & Johnson fined in landmark opioid ruling
... Earlier this year, Oklahoma settled with OxyContin maker Purdue Pharma for $270m and Teva Pharmaceutical for $85m, leaving Johnson & Johnson as the lone defendant...
National Portrait Gallery drops £1m donor
... The Sackler Trust, run by the family that owns Purdue Pharma, seller of prescription painkiller OxyContin, said the donation might deflect the gallery from its important work...
Purdue Pharma 'reaches tentative agreement' to settle opioid cases
The Company has made billions from products like painkiller OxyContin
Drug-making giant Purdue Pharma has reportedly reached a tentative multi-billion dollar agreement in the US to settle a host of lawsuits against it.
The Firm owned by the billionaire Sackler family is accused of helping fuel the US opioid crisis through drugs like painkiller OxyContin.
The Deal would remove Purdue from The First federal trial over the opioids crisis, set to open in Ohio in October.
But The Company could still face legal battles with states not in The Deal .
Connecticut, Iowa, Massachusetts, Nevada, New Jersey , New York , Pennsylvania, North Carolina and Wisconsin are among, the Associated Press reports.
The reported settlement is expected to be the largest ever paid out by an opioid manufacturer.
What is in The Deal ?by More Than 2,000 plaintiffs - including half The States , local governments and Native American tribes.
US media report The Deal would involve the Sacklers exiting The Company before it would file for bankruptcy, dissolve and reform.
Profits from The Business would then be directed to pay plaintiffs an amount - thought to be around $10bn-12bn (£8bn-10bn) - as well as donating drugs for addiction and overdose recovery, multiple reports say.
The Sackler family are expected to directly contribute at least $3bn of their own personal fortune to The Deal , according to the reports.
- But falls short of The National settlement Purdue had been seeking, according to the Washington Post newspaper.
Opioid-related deaths have risen dramatically in recent yearsA Number of state attorney generals have publicly pledged to continue their legal fight against The Firm .
"This apparent settlement is a slap in The Face to everyone who has had to bury a loved one due to this family's destruction and greed," said Josh Shapiro , Pennsylvania's top lawyer.
"It allows the Sackler family to walk away billionaires and admit no wrongdoing. "
What is the opioid crisis?Opioids are a group of drugs that range from codeine to illegal drugs like heroin. Prescription opioids are primarily used for pain relief But can be highly addictive.
On average, 130 Americans die from an opioid overdose Every Day , according to the US Center for Disease Control and Prevention, which says More Than 200,000 Americans have died from opioid-related overdoses in The Last two decades.
Purdue is one of the opioid makers, distributors and pharmacies named in More Than 2,000 lawsuits represented in the federal trial scheduled to begin in Ohio next month.
The cases allege the companies are responsible for fuelling an opioid addiction crisis in the US.
Firms including Purdue are accused of using deceptive practices to sell opioids including downplaying their addictive quality.
Purdue argued the US regulator, the Food and Drug Administration, had approved labels for OxyContin that had warnings about the risks.
In a separate case, Drugmaker Johnson & Johnson for its part in fuelling Oklahoma's opioid addiction crisis last month. for $270m earlier this year.
Who are the Sackler family?Brothers Arthur, Mortimer, and Raymond Sackler were all doctors from Brooklyn, New York , who in the early 1950s bought a medicine company called Purdue Frederick which would become Purdue Pharma .
Today, the Sacklers' fortune is estimated at about $13bn. The Family are prolific philanthropists and their name adorns wings of cultural buildings around The World - including the Louvre In Paris .
As the opioid scandal has engulfed The Family , A Number of high-profile from The Family .
The Sacklers have argued they were passive board members of Purdue Pharma , who approved routine management requests and were not involved with the marketing of OxyContin.
opioids, addiction, sackler trust
Source of news: bbc.com
