⁍ Purdue Pharma LP, the OxyContin maker controlled by members of the wealthy Sackler family, is nearing an agreement to plead guilty to criminal charges.


⁍ The plea deal would resolve U.S. Justice Department probes into its alleged role in fueling the nation’s opioid crisis.


⁍ The Stamford, Connecticut-based company is expected to face penalties exceeding $8 billion.


– The maker of OxyContin is close to a deal that would see it plead guilty to charges related to the nation’s opioid crisis and pay billions in penalties, Reuters reports. Sources say Purdue Pharma is in talks with federal prosecutors and lawyers for the company to reach a plea deal that would include a $3.54 billion criminal fine, $2 billion criminal forfeiture, and $2.8 billion civil penalty. The penalties are expected to be paid in the near term as Purdue doesn’t have the funds to fully repay its creditors. Purdue filed for bankruptcy last year and has shielded itself from thousands of lawsuits filed by states, cities, counties, and others seeking to hold it responsible for allegedly flooding communities with opioid painkillers that contributed to widespread addiction and fatal overdoses. A plea agreement would require approval of Purdue’s bankruptcy judge. One of the negotiated terms of Purdue’s proposal to settle thousands of other opioid lawsuits is that it resolve the Justice Department probes. Members of the Sackler family, many of whom previously served on Purdue’s board and also face lawsuits, will avoid criminal charges in the looming settlement, the two people said. Certain family members are in discussions to pay a roughly $225 million civil penalty for allegedly causing false claims regarding Purdue’s prescription painkillers to be filed with government healthcare programs, three people said. That would be on top of the $3 billion the Sacklers have offered to settle other lawsuits. The current settlement under discussion does not resolve any future criminal liability the Sacklers or other individuals may face. The Justice Department is continuing a criminal probe of the family.



Source: https://www.reuters.com/article/us-purdue-pharma-investigations-opioids/exclusive-oxycontin-maker-purdue-nears-guilty-plea-agreement-in-us-criminal-probe-sources-idUSKBN26S1P2