Sacklers Drained Purdue Money After First Lawsuit

Purdue Pharma and three executives pleaded guilty in 2007 and taking part in misleading the public about the risks of OxyContin. The Sacklers, who own the company, began to drain money from the company shortly after, according to the BBC. Between 2008 and 2017, the family transferred about $10.7 billion out of Purdue Pharma. The amount of money greatly exceeds withdrawals that the family made - $1.3 billion - between 1995 and 2007. Lawsuits Threaten the Company’s Survival In the past nine years, states, cities, and counties have started to sue Purdue for their misdeeds. At last, most of the lawsuits were added together in court. Now U.S. Bankruptcy Judge Robert Drain of White Plains, New York, will soon decide to decide whether to approve a $12 billion settlement. The payout would cover more than 2,700 lawsuits over its role in the opioid addiction crisis. The payout will potentially bankrupt the company, but they still have pharmaceutical companies that may remain unaffected and do business overseas. On May 10,…

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Perdue Pharma Will Profit From Medication-Assisted Treatment

Perdue Pharma makes Oxycontin, one of the most addictive prescription opioid drugs on the market. They’re a subject of many lawsuits and have been under Congressional investigation for their activities promoting opioid medications to doctors and other medical professionals. Many people say their company has made hundreds of millions of dollars fueling the addiction epidemic. However, the company has now started to dig into a new way to make money from the opioid epidemic. They’ve been quietly working to patent a new form of buprenorphine, a drug that is regularly used to help people get off of opioids. What is Perdue’s New Addiction Medication? In the recovery community, buprenorphine better known as a medication-assisted treatment when people take these drugs to stay clean. Perdue’s version is a “fast-acting” form of buprenorphine, which helps control drug cravings, according to CBS reported. While other versions of the drug are available in either tablet or dissolving strips, the Purdue version comes in a "wafer" that dissolves in only a few seconds.  …

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