OxyContin-maker Purdue Pharma to pay $8.3 billion settlement for its role in opioid crisis
The Department of Justice and Purdue Pharma have reached an $8.3 billion settlement regarding the OxyContin maker's role in the opioid crisis, the DOJ announced during a Wednesday press conference. In addition, Purdue will plead guilty to charges of conspiracy to defraud the United States and violating federal anti-kickback laws, The Associated Press reports.
Purdue will plead guilty to offering doctors kickback payments if they wrote more prescriptions for Purdue's painkillers, as well as using health record software to push for those prescriptions. The company will also have to admit it held up Drug Enforcement Administration investigations into the company as part of the settlement. It will forfeit at least $2 billion to the federal government, pay at least a $3.54 billion criminal fine, and fork over $2.8 billion in damages, among other charges. Purdue filed for Chapter 11 bankruptcy last year, preventing it from paying the criminal fine right away.
The settlement doesn't absolve Purdue's owners and executives from criminal liability, as a criminal investigation into them and the company is still ongoing. It will turn Purdue into a public benefit company managed by a trust and remove its owners, the Sackler family, of any involvement. The company also still has to deal with thousands of claims from local and state officials over the opioid epidemic as they dealt with more than 450,000 overdose deaths in the past 20 years. Purdue has suggested paying $10 billion to settle them all.
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