Judge approves OxyContin-maker Purdue Pharma’s settlement over ‘multiple serious felonies’

ByAaron Katersky: For Entire Post, Go Here…

Several states and a number of opioid victims oppose the settlement, however.

“The DOJ settlement is a critical building block,” Judge Robert Drain said.

Purdue Pharma must plead guilty to three criminal charges, including conspiracy to defraud the United States and violating anti-kickback laws.

The Justice Department wants Purdue Pharma to become a public benefit corporation, meaning it will be governed by a trust that has to balance its interests against those of the American public and public health. If that term is met, the Justice Department would take $225 million and forgo $1.775 billion that would instead be sent to the states for opioid abatement.

“Purdue Pharma will never emerge from Chapter 11,” Huebner said.

Several states and a number of opioid victims oppose the settlement, however. They argue it’s too lenient on the controlling members of the Sackler family and reorganizes Purdue Pharma as a public benefit corporation, effectively putting the federal government in the opioid business.

Leave a Reply