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. Although the company has shifted its focus to abuse-deterrent formulations, Purdue continues to market and sell opioids, and continues to be involved in lawsuits around the opioid crisis.
JPMorgan Chase & Co has cut ties with Purdue Pharma LP over the OxyContin maker's alleged role in the U.S. opioid crisis, forcing it to find a new bank to manage cash and bill payments, people familiar.. Reuters - Published
Five U.S. states on Thursday filed lawsuits accusing Purdue Pharma LP of illegally marketing and selling opioids, escalating the wave of litigation over a nationwide abuse epidemic. Reuters - Published
Business Insider reports many high-end non-profits, museums, and hedge funds have cut ties with the Sackler family. They include the Metropolitan Museum of New York, The National Portrait Gallery, and..
A physician ally of Purdue Pharma LP whose views helped drive the explosive growth in the use of addictive pain relievers for common aches and pains in the United States has agreed to testify against.. Reuters - Published
Members of the Sackler family behind OxyContin maker Purdue Pharma LP have asked a judge to toss a lawsuit by Massachusetts' attorney general claiming they helped fuel the U.S. opioid epidemic, arguing.. Reuters - Published
Purdue Pharma LP fraudulently transferred funds to members of the wealthy Sackler family who control the OxyContin maker despite knowing it faced major liabilities that had made it already insolvent,.. Reuters - Published
OxyContin maker Purdue Pharma LP and members of the wealthy Sackler family that own the company reached a $270 million settlement to resolve a lawsuit brought by the state of Oklahoma accusing the.. Reuters - Published
Purdue Pharma LP has agreed to settle a lawsuit by the state of Oklahoma accusing the maker of painkiller OxyContin of helping fuel an opioid abuse epidemic, a person familiar with the matter said on.. Reuters - Published
Oklahoma's top court on Monday declined to delay a landmark trial set for May in a multibillion-dollar lawsuit accusing OxyContin maker Purdue Pharma LP and two other drugmakers of helping fuel an.. Reuters - Published
OxyContin maker Purdue Pharma LP is exploring filing for bankruptcy to address potentially significant liabilities from thousands of lawsuits alleging the drug manufacturer contributed to the deadly.. Reuters - Published