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Purdue Pharma

Judge overseeing Purdue Pharma bankruptcy approves $1.3 million bonus for CEO

Purdue Pharma’s CEO Craig Landau can receive a $1.3 million bonus, ruled a judge.

Judge Robert Drain said the company was justified in giving Landau the bonus as it would keep him as CEO of the company.

Connecticut and the 23 other non-consenting states who have not agreed to settlement terms with Purdue, had strongly opposed the bonus.

Sackler family withdrew $10 billion from Purdue Pharma while legal pressure mounted, audit shows

An audit commissioned by Purdue Pharma, to help navigate its bankruptcy, indicates that members of the Sackler family withdrew $10.7 billion from the company and distributed it amongst its trusts and overseas holding companies, according to reporting by The New York Times.

Purdue Pharma’s Richard Sackler ignored OxyContin addiction concerns, new emails show

A recently exposed 1997 email chain shows Dr Richard Sackler, member of the billionaire founding family of Purdue Pharma, knew about the potential abuse of opioids by its clients.

This email exchange was included in over 1,000 pages of Kentucky court records that are now being made public. They offer one of the most complete pictures to date of Sackler’s presence while working inside Purdue. From 1996 to 1999 he was Senior Vice President and was directly involved in guiding the promotional strategy for OxyContin.

Opioid drugmaker Purdue Pharma files for bankruptcy

OxyContin

In the face of thousands of lawsuits in its role in the opioid addiction crisis, Purdue Pharma   announced yesterday that it has filed for bankruptcy, stating funds would go to the 24 states and thousands of cities and counties that are seeking damages from the sale of its opioid painkiller drug OxyContin.

Steve Miller, Chairman of the company’s board of directors, said in a statement: “This unique framework for a comprehensive resolution will dedicate all of the assets and resources of Purdue for the benefit of the American public.

Sacklers could give up Purdue Pharma and settle 2,000 lawsuits for $10-12 billion, proposal says

The Sackler family are offering to settle more than 2,000 opioid crisis lawsuits for between $10-12 billion, according to NBC.

Sackler family lawyers said in a confidential meeting in Cleveland on 20 August that the family would settle lawsuits brought about by states, cities and counties for a sum of between $10 billion and $12 billion.

Louvre takes down all references to Purdue-owning Sackler family

The Louvre taken down references to the Sacklers, the billionaire owners of Purdue Pharma.

The largest art gallery in the world has taken down all mentions of the Sackler family which include a plaque acknowledging their donations and references to ‘the Sackler Wing,’ in which the museum’s collection of ‘oriental antiquities’ is housed.

Sacklers file motion to throw lawsuit out of court

Members of the Sackler family have asked a judge to throw a lawsuit – filed by Massachusetts attorney general Maura Healey – out of court.

The Sacklers, who claim the lawsuit contains “misleading and inflammatory allegations,” argued that Healey’s suit had mischaracterised internal records as part of an effort to create the “false impression” that the Sacklers themselves had directed Purdue Pharma’s marketing of the opioid painkiller OxyContin.

Sacklers fraudulently transferred funds to dodge litigation, lawsuit says

New York state prosecutors have filed a lawsuit against members of the Sackler family, alleging the Purdue Pharma controllers fraudulently transferred hundreds of millions of dollars into offshore accounts, as part of an effort to protect their funds from litigation.

Purdue Pharma settle Oklahoma lawsuit for $270 million

OxyContin drugmaker Purdue Pharma has agreed to pay nearly $270 million to the state of Oklahoma, in order to settle a case brought about by the Oklahoma Attorney General over the company’s role in the opioid crisis.

The case launched by Oklahoma Attorney General Mike Hunter, is the first to be settled after Hunter launched a series of lawsuits against Purdue, Johnson & Johnson, and Teva in 2017.

Tate art galleries will not accept donations from Sacklers

Image Credit: Hpschaefer

The Tate network of art galleries has said it will no longer accept gifts from the notorious Sackler family, the billionaire controllers of OxyContin drugmaker Purdue Pharma.

The decision comes after the National Portrait Gallery turned down a £1 million gift from the Sackler’s who are accused of playing a fundamental role in the opioid epidemic. The backlash follows protests from photographer Nan Goldin.

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