American phamaceutical company
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Purdue Pharma L.P. is a privately held pharmaceutical company founded by John Purdue Gray. It is owned principally by descendants of Mortimer and Raymond Sackler. In 2007, it paid out one of the largest fines ever levied against a pharmaceutical firm for mislabeling its product OxyContin, and three executives were found guilty of criminal charges. Although the company shifted its focus to abuse-deterrent formulations, Purdue continued to market and sell opioids, and continued to be involved in lawsuits around the opioid epidemic in the United States. Purdue filed for Chapter 11 bankruptcy protection on September 15, 2019 in New York.
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Purdue Pharma’s Payments to Sacklers Soared Amid Opioid CrisisA new audit finds that the family directed $10.7 billion from the drugmaker to family-controlled trusts and holding companies, as legal pressure tightened around Purdue.
U.S. Supreme Court rejects Arizona opioid case against Purdue, Sackler familyThe U.S. Supreme Court on Monday turned away a novel case by Arizona seeking to recover billions of dollars that the state has said that members of the Sackler family - owners of Purdue Pharma LP -..
Tufts University removes Sackler sign from bldgA maintenance worker has used a hammer and a flexible wall scrapper to remove the name of the billionaire family that owns OxyContin maker Purdue Pharma from a Tufts University building. (Dec. 5)
Fake doctors: OxyContin maker thrives in ChinaOxyContin sales are slowing in the United States under an avalanche of lawsuits and the bankruptcy of Purdue Pharma. But the company's owner, the Sackler family, continues to profit from sales of their..
OxyContin maker Purdue Pharma to pay states' lawyers, urged to help victimsOxyContin maker Purdue Pharma LP got court approval on Tuesday to reimburse millions of dollars in legal fees for states that back its proposed $10 billion settlement of opioid lawsuits, but with a..
OxyContin maker Purdue gets brief shield from litigationOxyContin maker Purdue Pharma LP won a court order on Friday briefly pausing the sprawling opioid litigation against the company so it can try to make headway on its proposed legal settlement that it..
Judge sees benefit in pausing lawsuits against OxyContin maker PurdueA U.S. Bankruptcy Judge signaled support on Friday for a six-month pause to litigation led by 24 states against OxyContin maker Purdue Pharma LP to give the company time to settle thousands of lawsuits..
Cracks in Purdue's proposed opioid settlement as Arizona backs outThe U.S. state of Arizona withdrew its support for a proposed nationwide opioid settlement with Purdue Pharma LP, saying the maker of OxyContin sought to "undermine material terms of the deal,"..
Sacklers reaped up to $13 billion from OxyContin maker, U.S. states sayOxyContin maker Purdue Pharma LP steered up to $13 billion in profits to the company's controlling Sackler family, according to U.S. states opposing efforts to halt lawsuits alleging the company and..
U.S. states fight back against Purdue's bid to halt opioid lawsuitsU.S. state officials are due on Friday to launch a counterattack against OxyContin maker Purdue Pharma LP over its attempt to shield the company and its controlling Sackler family from thousands of..
Colleges got $60M-plus from OxyContin familyPrestigious universities around the world have accepted at least $60 million from the family that owns Purdue Pharma over the past five years.. (Oct. 3)
Purdue Pharma to stay in business as it pursues bankruptcy protectionLawyers for the pharmaceutical company secured permission to maintain business as usual — paying employees and vendors, supplying pills to distributors and keeping current on taxes and insurance
Purdue bankruptcy hearing gets underwayA judge heard arguments to decide whether lawsuits against members of the Sackler family that owns Purdue Pharma can go ahead with the company seeking bankruptcy protection. (Sept. 17)
AP Top Stories 5PHere are the top stories for Tuesday, September 17th: Cokie Roberts dies; Purdue Pharma in bankruptcy court; R Kelly in court; New York skyscraper hits 1550 feet.
David Sackler defends family and Purdue PharmaVanity Fair contributing editor Bethany McClean joined CBSN to discuss her reporting on Purdue Pharma and its involvement in the opioid epidemic. She interviewed David Sackler, who says his family did..
Purdue Pharma files for bankruptcy amid numerous lawsuits over opioid epidemicPurdue Pharma, the company that made billions selling the prescription painkiller OxyContin, filed for bankruptcy late Sunday. The move came days after Purdue reached a tentative settlement with many..
Purdue Pharma files for bankruptcy. Here's what it meansPurdue Pharma is framing its bankruptcy filing as an opportunity to cut red tape and provide billions in settlement cash to curb the opioid crisis.
Also reported by •CBS News
Even with bankruptcy, Purdue Pharma may not be off hookSome states plan to object to a settlement in bankruptcy court and may pursue lawsuits against the Sackler family
Your Monday BriefingIran, Purdue Pharma, Ric Ocasek: Here’s what you need to know.
OxyContin maker Purdue Pharma files for bankruptcy as part of opioids settlementOxyContin maker Purdue Pharma filed for bankruptcy protection Sunday, days after reaching a tentative settlement with many state and local governments
New York Uncovers $1 Billion in Sackler Family Wire TransfersIn a court filing, the state attorney general’s office says that it has found new account transfers by family members who own Purdue Pharma, the maker of opioids.
Eye Opener: The Trump administration moves to ban most flavored e-cigarettesPresident Trump proposes a ban on most flavored vaping products. Also, 23 states have reached a tentative settlement with OxyContin maker Purdue Pharma over the nation’s opioid crisis. All that and..
Purdue settlement falls short for some in OhioOhio has been hit hard by the opioid crisis and residents in Barberton say the settlement with Purdue Pharma will do little to alleviate the opioid epidemic. (Sept. 11)
Purdue Pharma reaches tentative deal to settle opioid lawsuitsArizona's attorney general said the tentative deal was the quickest way to get relief for communities devastated by the opioid epidemic.
OxyContin maker agrees to tentative settlement for opioid case, attorneys sayPurdue Pharma will reportedly pay up to $12 billion over time and the Sackler family will give up control of the company, sources say.
If OxyContin-maker Purdue Pharma files for bankruptcy plaintiffs could see smaller payoutsA government source tells CBS News the maker of oxycontin could file for bankruptcy as early as Wednesday. Purdue Pharma and its owners, members of the Sackler family, have been negotiating a potential..
Sackler family could pay billions to settle opioid lawsuitsThe billionaire Sackler family may be willing to pay up, to settle thousands of lawsuits stemming from the opioid crisis. The proposed settlement comes amid speculation that the family's company,..
U.S. judge allows public nuisance claim in opioid trialThe U.S. judge overseeing nationwide litigation concerning the opioid epidemic on Monday rejected Purdue Pharma LP's effort to dismiss claims that its activities caused a public nuisance.
U.S. judge denies bid to dismiss claim opioids are a public nuisanceThe U.S. judge overseeing nationwide litigation concerning the opioid crisis on Monday rejected Purdue Pharma LP's effort to dismiss claims that its activities caused a public nuisance.
Sackler family could keep fortune in proposed Purdue opioids settlementWashington Post reporter Lenny Bernstein joins CBSN to discuss his reporting on a proposed Purdue Pharma settlement could leave the Sackler family with most of their personal fortune.
Purdue Pharma prepping for a bankruptcy, report saysLawyers for opioid peddler Purdue Pharma have documents in works for a Chapter 11 bankruptcy filing, Reuters reports
Purdue University: We're not Purdue Pharma, OK?Same name, different Purdue: Indiana school finds it must distance itself from pharma company tied to opioid crisis
Sacklers vs. States: Settlement Talks Stumble Over Foreign BusinessThe Sackler family is willing to give up Purdue Pharma to settle all claims related to the opioid crisis, but is resisting a quick sale of its overseas drug company.
Eye Opener: The president signs an emergency declaration for Puerto RicoPuerto Rico braces for Tropical Storm Dorian. Also, Purdue Pharma is offering $10 to 12 billion to settle more than 2,000 lawsuits accusing them of fueling the opioid crisis. All that and all that..
Ex-Purdue Pharma head defends OxyContin marketing in videoThe video comes from a deposition that was part of a 2015 lawsuit against the company by the state of Kentucky
Purdue Pharma offering billions to settle opioid crisis lawsuitsCBS News has learned Purdue Pharma, the maker of oxycontin is offering to pay billions of dollars to settle thousands of lawsuits stemming from the opioid crisis. Newly obtained video also shows the..
Also reported by •Reuters
Purdue Pharma opioids suits talks accelerating, plaintiffs saySettlement negotiations cover 2,000 lawsuits against the OxyContin maker and others in the industry; one report says it's made offer of up to $12B
Purdue Pharma offers opioid settlementCBS News has learned Purdue Pharma, the maker of OxyContin, has offered $5-6 billion to settle thousands of claims. It is unclear how much Purdue's owners, the Sackler family, would have to pay.
Purdue Pharma in discussion on $10 billion-$12 billion offer to settle opioid lawsuits: sourcesOxyContin maker Purdue Pharma LP and its owners, the Sackler family, are in discussion to settle more than 2,000 opioid lawsuits against the company for $10 billion to $12 billion, two people familiar..
Opioid drugmaker Purdue Pharma offers $10-12 billion to settle opioid claims: NBC NewsOxyContin maker Purdue Pharma and its owners, the Sackler family, are offering to settle more than 2,000 lawsuits against the company for $10 billion to $12 billion, NBC News reported on Tuesday,..
Judge orders Johnson & Johnson to pay $572 million for role in opioid crisisThe state previously settled with OxyContin-maker Purdue Pharma and Israel's Teva Pharmaceutical for a total of more than $350 million.
No Pre-Reading, No Rehearsing: How ‘The Weekly’ Kept Its Recreation of Historic Opioid Testimony AuthenticThe Times TV show’s producer/director shares the challenges and rewards of bringing to life witness testimony against Purdue Pharma in a way that stayed true to our journalistic principles.
New York Subpoenas Banks, Financial Advisers for Sackler RecordsThe state claims that the Purdue Pharma owners transferred billions of dollars from the company and hid them in offshore partnerships and other entities.
Arizona Files Novel Lawsuit in Supreme Court Over Opioid CrisisThe suit asks the justices to order the Sackler family to return billions said to have been looted from their company, Purdue Pharma
Groups cut ties with Sackler family over OxyContin lawsuitsMuseums and universities are cutting ties with the Sackler family amid lawsuits against them and the company they run, Purdue Pharma. They're accused of engaging in aggressive marketing tactics for the..