Litigation Update: Purdue Pharma Pleads Guilty and Settles for $8.3 Billion


Litigation Update: Purdue Pharma Pleads Guilty and Settles for $8.3 Billion

The DOJ has announced that Purdue Pharma, the maker of OxyContin, the opioid painkiller which had a big role in the U.S. opioid epidemic, has agreed to plead guilty to three federal criminal charges in addition to paying $8.3 billion. The agreement does not exonerate the Sackler family from their involvement and an investigation is still underway.

The plea includes admissions of guilt in regards to charges that Purdue conspired to defraud the United States; to violate the Food, Drug and Cosmetic Act; and to violate anti-kickback laws. Given that Purdue is undergoing bankruptcy proceedings in the NY district, that court must approve the settlement. Its implementation would include the dissolution of the existing company and the creation instead of a public benefit company to be managed by a trust. The new company will continue manufacturing medicines but will also provide additional resources to combat the opioid addiction such as counseling programs and prescription drug treatments. The Sackler family and current owners of Purdue Pharma will not be part of the new company.

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Published at Wed, 21 Oct 2020 17:49:23 +0000

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Edward Lott, Ph.D., M.B.A. is President and Managing Partner of Allentown-based ForLawFirmsOnly Marketing, Inc., a client acquisition company that offers attorneys signed client cases.Ed has been a digital entrepreneur since 1994, having discovered very early the opportunities the Internet offered. After having spent over two decades helping small business owners, Ed joined the staff of ForLawFirmsOnly Marketing as President and Managing Partner, where he is expanding the agency's cutting-edge services.A true marketing futurist, Ed's vast experience working directly with attorneys has given him a unique perspective on law firm marketing not found in many other digital marketing agencies. Ed has reshaped the offerings of ForLawFirmsOnly to focus on growing law firms through a holistic approach to digital marketing evident in the reformulated lead generation processes now in place. He is taking that same holistic approach for small businesses, helping them grow their bottom line.Want to learn more about ForLawFirmsOnly Marketing, our client acquistion services or lead generation programs, or just talk to Ed about his visions for helping your business grow? Call him at 855-943-8736.

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