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ReynardTheFox
Stranger



Registered: 01/25/17
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OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company 1
#26996736 - 10/21/20 05:16 PM (3 years, 3 months ago) |
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https://www.cnn.com/2020/10/21/business/purdue-pharma-guilty-plea/index.html
New York (CNN Business) Purdue Pharma, the maker of OxyContin, has agreed to plead guilty to three federal criminal charges for its role in creating the nation's opioid crisis and will pay more than $8 billion and close down the company.
The money will go to opioid treatment and abatement programs. The privately held company has agreed to pay a $3.5 billion fine as well as forfeit an additional $2 billion in past profits, in addition to the $2.8 billion it agreed to pay in civil liability. "Purdue Pharma actively thwarted the United States' efforts to ensure compliance and prevent diversion," said Drug Enforcement Administration Assistant Administrator Tim McDermott. "The devastating ripple effect of Purdue's actions left lives lost and others addicted."
The company doesn't have $8 billion in cash available to pay the fines. So Purdue will be dissolved as part of the settlement, and its assets will be used to create a new "public benefit company" controlled by a trust or similar entity designed for the benefit of the American public. The Justice Department said it will function entirely in the public interest rather than to maximize profits. Its future earnings will go to paying the fines and penalties, which in turn will be used to combat the opioid crisis.
That new company will continue to produce painkillers such as OxyContin, as well as drugs to deal with opioid overdose. Deputy Attorney General Jeffrey Rosen, who announced the settlement, defended the plans for the new company to continue to sell that drug, saying there are legitimate uses for painkillers such as OxyContin. The plan is for the company to make life-saving overdose rescue drugs and medically assisted treatment medications available at steep discounts to communities dealing with the opioid crisis.
The Justice Department also reached a separate $225 million civil settlement with the former owners of Purdue Pharma, the Sackler family. Still, the Sackler family -- as well as other current and former employees and owners of the the company -- face the possibility that federal criminal charges will be filed against them. "Purdue deeply regrets and accepts responsibility for the misconduct detailed by the Department of Justice," said Purdue Chairman Steve Miller, who joined Purdue's board in July 2018. "Purdue today is a very different company. We have made significant changes to our leadership, operations, governance, and oversight."
Contributing to the opioid crisis
The company, which filed for bankruptcy in 2019, pleaded guilty to violating federal anti-kickback laws, as it paid doctors ostensibly to write more opioid prescriptions. Abuse of prescription painkillers is a major cause of the nation's opioid crisis.
According to the Centers for Disease Control, 450,000 people died in the United States in the 10 years starting in 1999 from overdoses involving any opioid, including prescription and illicit opioids. And about a third of those deaths in 2018 involved prescription opioids. Although the more than $8 billion in fines and penalties in the agreement is a record to be paid by a pharmaceutical company, it is only a fraction of what it has cost federal, state and local governments to combat the opioid crisis. States across the country have filed claims topping $2 trillion in the Purdue Pharma bankruptcy case.
States object to the deal
So some states are objecting to the settlement. Twenty-five state attorneys general wrote to US Attorney General William Barr last week arguing against the plan to create a government-controlled company out of the assets of Purdue Pharma, arguing that the government should not be in the business of selling OxyContin. The letter said at least one potential buyer, which it did not identify, had already expressed interest in buying Purdue Pharma's drug business.
"The public should be confident that public officials are seeking to avoid having special ties to an opioid company, conflicts of interest, or mixed motives in an industry that caused a national crisis,' said the letter. "Selling the business to a private owner may also deliver more upfront money that cities and states can use to abate the opioid epidemic." Several state attorneys general who signed that earlier letter were quick to criticize the deal Wednesday.
"This settlement provides a mere mirage of justice for the victims of Purdue's callous misconduct," said Connecticut Attorney General William Tong. "The federal government had the power here to put the Sacklers in jail, and they didn't. Instead, they took fines and penalties that Purdue likely will never fully pay." The states are likely to continue to seek money from the company as part of its bankruptcy process. The settlement also needs the approval of the bankruptcy court for it to go into effect.
"Every dollar paid here is one dollar less for states like Connecticut trying to maximize money from Purdue and the Sacklers to abate the opioid epidemic," said Tong. "Preserving Purdue's ability to continue selling opioids as a public benefit corporation is simply unacceptable. The timing of this agreement mere weeks before the election raises serious questions about whether DOJ political leadership was negotiating in the best interest of the American public." -- CNN's Melanie Schuman contributed to this report
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Salac




Registered: 04/29/20
Posts: 40
Last seen: 1 year, 6 months
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Re: OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company [Re: ReynardTheFox]
#26996869 - 10/21/20 07:06 PM (3 years, 3 months ago) |
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I sure hope the government doesn't take control of the company... With how great a job the government has done with literally any other program they have been given in the healthcare/medicine industry... its been one hell of a trainwreck. I would be stoked if that 8 billion goes towards actual treatment, like the fact that people still have to pay $30 for a dose of generic naloxone or $130 for Narcan instead of something like "Opiate Overdose Awareness"
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PsychoReactive
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Registered: 05/22/09
Posts: 2,561
Loc: Cocalero
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Re: OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company [Re: Salac]
#26997077 - 10/21/20 09:51 PM (3 years, 3 months ago) |
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How about jailing the entire management board along with the CEO? Also take away all of their assets as you would with your average drug dealers? Proceeds of crime should be confiscated , all those luxury houses, yachts, diamonds, gold and luxury cars. Come on DEA, put your money where your mouth is. Set a good example for the rest of the pharmaceutical companies!
Edited by PsychoReactive (10/21/20 09:52 PM)
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morrowasted
Worldwide Stepper


Registered: 10/30/09
Posts: 31,377
Loc: House of Mirrors
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Re: OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company [Re: PsychoReactive] 1
#26997366 - 10/22/20 06:00 AM (3 years, 3 months ago) |
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They should get everyone involved hook on oxy then put them in jail right as they begin WDing
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PsychoReactive
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Registered: 05/22/09
Posts: 2,561
Loc: Cocalero
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Re: OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company [Re: morrowasted] 1
#26997574 - 10/22/20 09:18 AM (3 years, 3 months ago) |
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Quote:
morrowasted said: They should get everyone involved hook on oxy then put them in jail right as they begin WDing
Beautiful, sweet justice.
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tyrannicalrex
Strange R



Registered: 04/24/03
Posts: 38,323
Loc: subtropics
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Re: OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company [Re: PsychoReactive]
#26997743 - 10/22/20 11:15 AM (3 years, 3 months ago) |
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Quote:
PsychoReactive said: How about jailing the entire management board along with the CEO? Also take away all of their assets as you would with your average drug dealers? Proceeds of crime should be confiscated , all those luxury houses, yachts, diamonds, gold and luxury cars. Come on DEA, put your money where your mouth is. Set a good example for the rest of the pharmaceutical companies!

Yeeeaahh, right. You and I and everyone knows the really wealthy people involved will NEVER see ANY jail time, period. Plus the main people with all the money will pay their way out of it while retaining billions.
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openmind
curious


Registered: 08/03/07
Posts: 13,866
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Re: OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company [Re: morrowasted]
#26997892 - 10/22/20 12:40 PM (3 years, 3 months ago) |
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Quote:
morrowasted said: They should get everyone involved hook on oxy then put them in jail right as they begin WDing

-OM
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Blazer420
ŦøжїϿ ÐȐȜȧƜƐȓ


Registered: 06/13/09
Posts: 4,825
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Re: OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company [Re: openmind]
#26998384 - 10/22/20 05:38 PM (3 years, 3 months ago) |
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Quote:
openmind said:
Quote:
morrowasted said: They should get everyone involved hook on oxy then put them in jail right as they begin WDing

-OM
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x10000000000000000000000000000000000000000000000000
-------------------- ~ I used to get high on life, until I realized life was cut with morons ~ * You need 2 wake up and smell the music! * -We are all computer data in a materialistic world- |Sometimes you have to lose yourself, to find anything|
 
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PsychoReactive
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Registered: 05/22/09
Posts: 2,561
Loc: Cocalero
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Re: OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company [Re: tyrannicalrex] 1
#26998823 - 10/22/20 10:35 PM (3 years, 3 months ago) |
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Quote:
tyrannicalrex said:
Quote:
PsychoReactive said: How about jailing the entire management board along with the CEO? Also take away all of their assets as you would with your average drug dealers? Proceeds of crime should be confiscated , all those luxury houses, yachts, diamonds, gold and luxury cars. Come on DEA, put your money where your mouth is. Set a good example for the rest of the pharmaceutical companies!

Yeeeaahh, right. You and I and everyone knows the really wealthy people involved will NEVER see ANY jail time, period. Plus the main people with all the money will pay their way out of it while retaining billions.
These same people are the likes who run FDA, the World Health Organization, went to Epstein island with Bill Gates and the likes... and yet... million of people listen to these murderers about health, covid-19 and vaccines.
Oxymoronic at it's best.
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Fractal420
Psycellium



Registered: 06/21/13
Posts: 5,913
Last seen: 8 months, 15 days
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Re: OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company [Re: PsychoReactive]
#26999038 - 10/23/20 02:59 AM (3 years, 3 months ago) |
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Fuckers ruined the lives of everyone in my old neighborhood. Not joking. Although it mainly started when Teva generic 80s started running awash in the streets. 5 bucks each. 5mg tolerance
15 years later or so still lots of after effects/chain reaction
That’s not even mentioning the people who were afraid to wd and ODed on fent, which they’d never touch if they never tried a perc or oxy
-------------------- Dreaming of That face again. It's bright and blue and shimmering. Grinning wide And comforting me with it's three warm and wild eyes. Prying open MY third eye
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InnerWisdom


Registered: 08/09/19
Posts: 1,936
Loc: North EU
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Re: OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company [Re: Fractal420] 1
#26999045 - 10/23/20 03:10 AM (3 years, 3 months ago) |
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Still, the other drug companies continue to make similar opiates, right? This is a good thing that said company was charged, but it has the possibility of just creating the notion that the issue is now solved.
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skOsH
Functionally dysfunctional



Registered: 07/03/19
Posts: 1,372
Loc: the PNW
Last seen: 1 day, 16 hours
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Re: OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company [Re: morrowasted]
#26999103 - 10/23/20 04:55 AM (3 years, 3 months ago) |
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Quote:
morrowasted said: They should get everyone involved hook on oxy then put them in jail right as they begin WDing
I like this idea. Sweet poetic justic
Also, yeah...kind of ruined my life. Oh well. I mean, they distributed enough pills in one month for like, 1,000 a person in West Virginia or some shit--I remember reading about that.
Edited by skOsH (10/23/20 04:56 AM)
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sk8fast
Tripping skater



Registered: 08/02/10
Posts: 400
Last seen: 6 days, 1 hour
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Re: OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company [Re: skOsH]
#26999304 - 10/23/20 08:40 AM (3 years, 3 months ago) |
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Its good that the money is going to opioid treatment. Maybe now it wont cost 200 a week to get methadone if you don't have insurance
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thirtygoats

Registered: 12/29/11
Posts: 1,985
Last seen: 2 days, 15 hours
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Re: OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company [Re: tyrannicalrex]
#27000776 - 10/24/20 03:33 AM (3 years, 3 months ago) |
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Even with all their money, I don't see how corrupt people can continue to do things knowing it's not helping. It's a little confusing to me, but are they actually okay and satisfied with living a life that is based completely on bullshit and screwing people over? Obviously I don't know every little detail about that 3-ring circus sideshow they got going on in the Usa, but it's probably cancerous to one's mind and well-being to know every detail about it, so I won't feel bad if I misunderstand a fucked up system that is meant to have on-going problems like the drug war, which prolongs suffering and pain and ultimately fails in the end. Do they think they're too smart to get caught?.. because whether you get caught or not is neither a failure, nor some clever slick heist that you pulled off. It's a bunch of unaware morons who don't know why their lives are so hectic and fucked up and are mostly on auto-pilot. It must have a lot to do with reputation, image, ego, deceiving others, etc.
-------------------- No one knows who I am. Therefore, I am not anyone.
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tyrannicalrex
Strange R



Registered: 04/24/03
Posts: 38,323
Loc: subtropics
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Re: OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company [Re: thirtygoats]
#27003057 - 10/25/20 04:23 PM (3 years, 3 months ago) |
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Quote:
thirtygoats said: Even with all their money, I don't see how corrupt people can continue to do things knowing it's not helping. It's a little confusing to me, but are they actually okay and satisfied with living a life that is based completely on bullshit and screwing people over?
YES!
Quote:
thirtygoats said: Do they think they're too smart to get caught?..
YES!
Quote:
thirtygoats said: It's a bunch of unaware morons who don't know why their lives are so hectic and fucked up and are mostly on auto-pilot. It must have a lot to do with reputation, image, ego, deceiving others, etc.
They are very aware and just plain greedy, evil, shitty, and fucked up people who do not give one fucking damn about anyone or anything but what they can get, and how much they can get!
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Nikon Addict
Another Earthling



Registered: 01/16/18
Posts: 285
Loc: Colorado USA
Last seen: 1 year, 5 days
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Re: OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company [Re: ReynardTheFox]
#27003330 - 10/25/20 06:32 PM (3 years, 3 months ago) |
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JUSTICE!!!
-------------------- personal note: "It’s fair to say I’m stepping out on a limb, but I am on the edge and that’s where it happens.”
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Fractal420
Psycellium



Registered: 06/21/13
Posts: 5,913
Last seen: 8 months, 15 days
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Re: OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company [Re: InnerWisdom]
#27003989 - 10/26/20 04:05 AM (3 years, 3 months ago) |
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Quote:
InnerWisdom said: Still, the other drug companies continue to make similar opiates, right? This is a good thing that said company was charged, but it has the possibility of just creating the notion that the issue is now solved.
Familiar with Dsuvia? It’s a new opioid. If fentanyl wasn’t good enough, it’s suphentanil, one of the even more potent analogs. I think it’s like 10ug per dose.
And it is now a pharm as if duragesic, oxyfast, dilaudid aren’t enough. I think every time a patent runs out they will make a new opioid. Check out Belbucca! They’re now making buprenorphine doses for pain, what I don’t get is how 750ug will be that effective But maybe it’s for people with no tolerance? Or maybe it’s got much higher Bioavailability like zubsolv
Here’s the problem with Purdue: they killed more people than covid, it all started with their OC80s. They didn’t care that more people were dying than covid. The Sackler family faces NO criminal charges and just has to forfeit money.
Keep in mind it’s not just OC and MSContin. It’s also the decrease of these drugs and then switching to dope, and then to fent. Subs/Zub if you’re lucky and have the money
Can you imagine someone pressing billions of fent doses, paying doctors to sell them, and not even doing any time?
Hell, they should at least be made to deal with some precipitated withdrawal. And they can do the bazooka (shitting and puking at the same time) like their “victims” (and yes many times it is a victim, every 14yo in my area tried percs)
-------------------- Dreaming of That face again. It's bright and blue and shimmering. Grinning wide And comforting me with it's three warm and wild eyes. Prying open MY third eye
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morrowasted
Worldwide Stepper


Registered: 10/30/09
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Re: OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company [Re: Fractal420]
#27004140 - 10/26/20 07:59 AM (3 years, 3 months ago) |
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750ug of buprenorphine would provide decent pain relief for someone woth no opioid tolerance. Probably about what you could expect from 5 to 7.5mg of hydrocodone. But bupe is less euphoric so it might actually be a good idea to use it. Fewer people will abuse it. Obviously some people will
Ive seen people with no bupe tolerance take the kinds of doses they use for heroin WD- 4mg+, and they were totally wrecked for like 12 to 18 hours. Couldnt function at all. They looked like theyd done 50mg+ of hydrocodone
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ImmortalZodd
I seek only the strong



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Re: OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company [Re: morrowasted] 1
#27004670 - 10/26/20 01:42 PM (3 years, 3 months ago) |
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Justice was not served here. Only the illusion of Justice. We will not be seeing a renaissance in opioid treatment and therapy until there is a shift from the model of managing symptoms for profit to managing the well being of the individual.
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...the illegality of cannabis is outrageous, an impediment to full utilization of a drug which helps produce the serenity and insight, sensitivity and fellowship so desperately needed in this increasingly mad and dangerous world. Carl Sagan
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tyrannicalrex
Strange R



Registered: 04/24/03
Posts: 38,323
Loc: subtropics
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Re: OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company [Re: ImmortalZodd]
#27004714 - 10/26/20 02:06 PM (3 years, 3 months ago) |
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Quote:
ImmortalZodd said: Justice was not served here. Only the illusion of Justice. We will not be seeing a renaissance in opioid treatment and therapy until there is a shift from the model of managing symptoms for profit to managing the well being of the individual.
QFTMFT!
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