A federal judge sentenced OxyContin manufacturer Purdue Pharma on Tuesday, ordering the company to pay over $5 billion in criminal penalties.
The pharmaceutical company will soon dissolve, as the sentencing was the last step before Purdue Pharma had to legally move to close. The company will be replaced by Knoa Pharma, a company aimed at providing relief to and addressing the opioid crisis. The sentencing marks an end to the Department of Justice’s criminal fraud case against Purdue Pharma.
Acting Attorney General Todd Blanche called the sentencing a “prime example of the Department’s effort to redress past wrongs by rooting out and punishing unlawful conduct by companies that have contributed to the national crisis.”
The $5.5 billion in criminal penalties is related to the company’s fraud and kickback conspiracy charges the DOJ brought against the company, which it pleaded guilty to in 2020. $225 million of these liabilities will be paid
Continue reading
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!