oxycontin News

McKinsey Chief Says Firm Failed to Identify Opioid Epidemic

The head of McKinsey & Co. acknowledged that it failed to see the opioid epidemic unfolding while simultaneously doing work for drug regulators and makers of painkillers including OxyContin in his first appearance before lawmakers investigating the consulting firm’s actions. …

Purdue Pharma Squares Off With DOJ Over $6 Billion OxyContin Deal

A $6 billion deal hangs in the balance as OxyContin maker Purdue Pharma LP and its wealthy owners square off against the U.S. Justice Department over the firm’s opioid lawsuit settlement. The sides will meet in a New York courtroom …

Purdue’s Sacklers Consider Adding $1 Billion More to Opioid Settlement

Members of the billionaire Sackler family that own Purdue Pharma LP are weighing whether to add $1 billion to the OxyContin-maker’s faltering opioid settlement bid in an effort to win over holdouts, according to people familiar with the offer. The …

Sacklers Close to Agreement Increasing Opioid Settlement in Purdue Bankruptcy

Members of the Sackler family who own Purdue Pharma LP are nearing an agreement to boost their more than $4 billion offer to resolve sprawling opioid litigation after negotiating with states that had objected to terms of the OxyContin maker’s …

Publicis Loses Bid to Escape Massachusetts Opioid Marketing Lawsuit

A unit of French advertising company Publicis Groupe SA on Friday lost a bid to dismiss a lawsuit by Massachusetts’ attorney general claiming it helped OxyContin maker Purdue Pharma LP fuel the U.S. opioid epidemic. Publicis Health had called Attorney …

Judge Approves Purdue Pharma’s $7M Executive Bonus Plan

A U.S. judge on Monday approved up to $7.1 million in bonuses for five executives of Purdue Pharma, the bankrupt maker of OxyContin, at a hearing at which he faced blunt criticism for his handling of the case from a …

Bankruptcy Judge Urges Holdout States to Settle Issues With Purdue Pharma, Sacklers

A federal bankruptcy judge on Friday urged states that oppose a settlement plan with Purdue Pharma to try to work out differences with the OxyContin maker before he issues a ruling next week. During a videoconference hearing, Judge Robert Drain …

Ruling on Purdue Pharma Bankruptcy and Opioid Settlement Delayed Until Next Week

A U.S. judge said on Thursday he now anticipates a ruling on OxyContin maker Purdue Pharma LP’s bankruptcy reorganization plan on Wednesday of next week instead of this week because he needs more oral argument on certain issues. U.S. Bankruptcy …

Opioid and Asbestos Immunity Cases Could Tilt Bankruptcy Scales Away From Victims

The billionaire owners of OxyContin maker Purdue Pharma LP and lumber giant Georgia-Pacific are in high-stakes legal battles to shed billions of dollars of liabilities in bankruptcy — the first over their company’s alleged role in America’s opioid crisis and …

Bankruptcy Judge Says Purdue Pharma’s Sacklers Face ‘Substantial’ Liability Risk

The judge overseeing Purdue Pharma’s bankruptcy said on Monday that some members of the Sackler family who own the OxyContin maker face a “substantial risk” of liability and could be on the hook for “huge amounts of money” over claims …