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posted by janrinok on Tuesday September 10 2019, @02:58AM   Printer-friendly
from the what-a-pain dept.

https://abcnews.go.com/Health/wireStory/opioid-talks-impasse-purdue-bankruptcy-filing-expected-65456920

OxyContin maker Purdue Pharma is expected to file for bankruptcy after settlement talks over the nation's deadly overdose crisis hit an impasse, attorneys general involved in the talks said Saturday.

The breakdown puts the first federal trial over the opioid epidemic on track to begin next month, likely without Purdue, and sets the stage for a complex legal drama involving nearly every state and hundreds of local governments.

Purdue, the family that owns the company and a group of state attorneys general had been trying for months to find a way to avoid trial and determine Purdue's responsibility for a crisis that has cost 400,000 American lives over the past two decades.

An email from the attorneys general of Tennessee and North Carolina, obtained by The Associated Press, said that Purdue and the Sackler family had rejected two offers from the states over how payments under any settlement would be handled and that the family declined to offer counterproposals.

"As a result, the negotiations are at an impasse, and we expect Purdue to file for bankruptcy protection imminently," Tennessee Attorney General Herbert Slatery and North Carolina Attorney General Josh Stein wrote in their message, which was sent to update attorneys general throughout the country on the status of the talks.

[...] The impasse in the talks comes about six weeks before the scheduled start of the first federal trial under the Cleveland litigation, overseen by U.S. District Judge Dan Polster. That trial will hear claims about the toll the opioid epidemic has taken on two Ohio counties, Cuyahoga and Summit.

A bankruptcy filing by Purdue would most certainly remove the company from that trial.

The bankruptcy judge would have wide discretion on how to proceed. That could include allowing the claims against other drugmakers, distributors and pharmacies to move ahead while Purdue's cases are handled separately. Three other manufacturers have already settled with the two Ohio counties to avoid the initial trial.

-- submitted from IRC


Original Submission

Related Stories

Sacklers Threaten to Scrap Opioid Deal If They Aren’t Shielded From Lawsuits 69 comments

Submitted via IRC for Bytram

Sacklers threaten to scrap opioid deal if they aren't shielded from lawsuits

Lawyers for OxyContin-maker Purdue Pharma filed a new complaint late Wednesday threatening that the company's mega-rich owners, the Sackler family, could pull out of a proposed multi-billion-dollar opioid settlement deal if a bankruptcy judge doesn't shield the family from outstanding state lawsuits.

Purdue's lawyers argue that if the lawsuits continue, the Sacklers will have to waste "hundreds of millions of dollars" on legal costs that could otherwise go to claimants in the settlement. The family's lawyers added that in that event, the family "may be unwilling—or unable—to make the billions of dollars of contributions" to the proposed settlement.

State attorneys general, however, argue that the tactic is yet another move designed to shield the Sacklers and their ill-gotten wealth.

"This filing isn't a surprise. It's yet another effort by Purdue to avoid accountability and shield the Sackler family fortune, and we will be opposing it," Maura Healey, the attorney general of Massachusetts, told the New York Times.

Related:


Original Submission

OxyContin Maker Purdue Pharma to Plead Guilty to Three Criminal Charges 67 comments

OxyContin Maker Purdue Pharma to Plead Guilty to Three Criminal Charges

OxyContin maker Purdue Pharma to plead guilty to 3 criminal charges as part of an $8 billion-plus settlement

WASHINGTON (AP) — Purdue Pharma, the company that makes OxyContin, the powerful prescription painkiller that experts say helped touch off an epidemic, will plead guilty to three federal criminal charges as part of a settlement of more than $8 billion, Justice Department officials told The Associated Press.

The company will plead guilty to a criminal information being filed Wednesday in federal court in New Jersey to three counts, including conspiracy to defraud the United States and violating federal anti-kickback laws, the officials said.

The deal does not release any of the company's executives or owners — members of the wealthy Sackler family — from criminal liability. A criminal investigation is ongoing.

The officials were not authorized to discuss the investigation publicly and spoke on condition of anonymity.

Also at: Business Insider, CBS News, and ABC News.

Guilty pleas? You seldom see that - these corporates always seem to get away with weasel word statements to the effect, "We acknowledge no wrongdoing blah blah blah . . . "

Purdue Pharma Pleads Guilty to Opioid Crisis Charges, Will Become a Public Benefit Corporation

OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company

Purdue Pharma, the maker of OxyContin, has agreed to plead guilty to three federal criminal charges for its role in creating the nation's opioid crisis and will pay more than $8 billion and close down the company.

The money will go to opioid treatment and abatement programs. The privately held company has agreed to pay a $3.5 billion fine as well as forfeit an additional $2 billion in past profits, in addition to the $2.8 billion it agreed to pay in civil liability.
"Purdue Pharma actively thwarted the United States' efforts to ensure compliance and prevent diversion," said Drug Enforcement Administration Assistant Administrator Tim McDermott. "The devastating ripple effect of Purdue's actions left lives lost and others addicted."

The company doesn't have $8 billion in cash available to pay the fines. So Purdue will be dissolved as part of the settlement, and its assets will be used to create a new "public benefit company" controlled by a trust or similar entity designed for the benefit of the American public. The Justice Department said it will function entirely in the public interest rather than to maximize profits. Its future earnings will go to paying the fines and penalties, which in turn will be used to combat the opioid crisis.

That new company will continue to produce painkillers such as OxyContin, as well as drugs to deal with opioid overdose. Deputy Attorney General Jeffrey Rosen, who announced the settlement, defended the plans for the new company to continue to sell that drug, saying there are legitimate uses for painkillers such as OxyContin.

Also at The New York Times, Bloomberg, NBC, and CBS.

Previously:


Original Submission


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  • (Score: 4, Insightful) by c0lo on Tuesday September 10 2019, @03:02AM (2 children)

    by c0lo (156) Subscriber Badge on Tuesday September 10 2019, @03:02AM (#892035) Journal

    Now you need WikiLeaks for someone to leak another batch of 'fiscal-paradise papers'.

    --
    https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
    • (Score: 1) by fustakrakich on Tuesday September 10 2019, @04:03AM (1 child)

      by fustakrakich (6150) on Tuesday September 10 2019, @04:03AM (#892059) Journal

      What good does that do? Nobody gives a shit.

      --
      La politica e i criminali sono la stessa cosa..
      • (Score: 2) by c0lo on Tuesday September 10 2019, @04:27AM

        by c0lo (156) Subscriber Badge on Tuesday September 10 2019, @04:27AM (#892067) Journal

        What good does that do?

        You have a point here. I don't know what good that would do, but we'll never learn if it doesn't happen.
        On the other side, what bad would it do if it happens?

        Nobody gives a shit.

        Ummm... some might; and even more than a shit.

        --
        https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
  • (Score: -1, Troll) by Anonymous Coward on Tuesday September 10 2019, @03:18AM

    by Anonymous Coward on Tuesday September 10 2019, @03:18AM (#892037)

    I trust these corporations to safely and effectively vaxxinate me!!!

  • (Score: 3, Disagree) by Runaway1956 on Tuesday September 10 2019, @03:46AM (9 children)

    by Runaway1956 (2926) Subscriber Badge on Tuesday September 10 2019, @03:46AM (#892052) Journal

    I want to see Purdue's (the company) assets auctioned off to the highest bidders. Then I want to see Purdue's (the family) assets auctioned off to the highest bidders. And, I want to see the Sackler's assets auctioned off the same way.

    Yeah, I do understand that corporations are created to protect the owners and investors if the company goes belly up. But, criminal intent, lying to congress, and an utter disregard for human life seems to trump all of those intents of corporate protections. Burn 'em, and make an example of them.

    --
    ‘Never trust a man whose uncle was eaten by cannibals’
    • (Score: 2, Funny) by Anonymous Coward on Tuesday September 10 2019, @04:02AM (3 children)

      by Anonymous Coward on Tuesday September 10 2019, @04:02AM (#892058)

      These are job creators you're talking about. Are you off your meds?

      • (Score: 5, Insightful) by Runaway1956 on Tuesday September 10 2019, @04:15AM (2 children)

        by Runaway1956 (2926) Subscriber Badge on Tuesday September 10 2019, @04:15AM (#892063) Journal

        No - small businesses are job creators. Big corporations are job eliminators.

        --
        ‘Never trust a man whose uncle was eaten by cannibals’
        • (Score: 3, Funny) by EJ on Tuesday September 10 2019, @05:00AM (1 child)

          by EJ (2452) on Tuesday September 10 2019, @05:00AM (#892074)

          Yeah. Mom and Pop pharmaceutical companies are awesome. The police call them meth labs.

          • (Score: 3, Touché) by c0lo on Tuesday September 10 2019, @05:51AM

            by c0lo (156) Subscriber Badge on Tuesday September 10 2019, @05:51AM (#892092) Journal

            They do produce something. At home, in US.
            And then... they don't export the capital overseas and don't get govt subsidies or tax breaks.
            So, why do you object to them? (grin)

            --
            https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
    • (Score: 4, Informative) by bzipitidoo on Tuesday September 10 2019, @05:01AM

      by bzipitidoo (4388) on Tuesday September 10 2019, @05:01AM (#892075) Journal

      Yeah, my first thought was that the bankruptcy was a sham. Sure, the company is dead. But the owners skate. That's S.O.P. in the mining business. Dig up a whole lot of rock, siphon off the small percentage that's worth something and cash in on that, making sure none of the profit goes to the mining company, clog a nearby stream with tailings that will leach pollution downstream for the next century, and declare bankruptcy before anyone can come calling with a bill for the cleanup. Someone has to clean up the mess, and it won't be them. The public gets stuck with the problem.

      Since the War on Drugs is still hot, despite the effective removal of marijuana from the list of illegal substances, the Sacklers ought to be facing a whole host of lawsuits and criminal trials for peddling addictive drugs, same as a leader of a drug cartel that distributes cocaine or opium.

    • (Score: 0) by Anonymous Coward on Tuesday September 10 2019, @11:54AM (2 children)

      by Anonymous Coward on Tuesday September 10 2019, @11:54AM (#892176)

      Remember that you said that the next time you're in the hospital with a broken back, an amputation, any sort of deep surgery, or a heart attack for that matter.

      Yes, the company did wrong with the way they advised their products be used and more. No, not every prescription for opioids was wrong. And what's happening here has already made physicians much more fearful of giving strong pain medication even when it is indicated, and will do nothing but drive the prices of the drugs up further. Making them harder to obtain sounds like a good thing until it's you lying in a postop bed.

      • (Score: 4, Interesting) by Runaway1956 on Tuesday September 10 2019, @12:08PM

        by Runaway1956 (2926) Subscriber Badge on Tuesday September 10 2019, @12:08PM (#892181) Journal

        We should probably keep a few things in mind. Opioids have been around, and in more or less common use, much longer than Purdue has existed. Opioids have been pretty strictly controlled for at least the past 80 years. Purdue is directly responsible for false statements made to congress, and then widely circulated throughout the legal and medical professions. Those false statements have influenced lawmakers and physicians alike, resulting in the opioid crisis we see today.

        Physicians who have been negligent in their prescriptions should be wary of writing more negligent prescriptions. And, regulators should be watching for physician negligence.

        We need to be somewhere close to conditions in the 1990's. Stuff was available, but you couldn't just wheedle it out of a doctor, because you had a common headache. Stepping away from being active pushers is most certainly not a bad thing.

        --
        ‘Never trust a man whose uncle was eaten by cannibals’
      • (Score: 1) by khallow on Tuesday September 10 2019, @04:05PM

        by khallow (3766) Subscriber Badge on Tuesday September 10 2019, @04:05PM (#892257) Journal

        Yes, the company did wrong with the way they advised their products be used and more. No, not every prescription for opioids was wrong. And what's happening here has already made physicians much more fearful of giving strong pain medication even when it is indicated, and will do nothing but drive the prices of the drugs up further. Making them harder to obtain sounds like a good thing until it's you lying in a postop bed.

        Keep in mind that it's much easier for the prescribing doctor to control your access to such medications when you're lying in a postop bed.

        Also, how much of Purdue's production went to drug abuse? It looks like illegal use was a important part of their business model and that they pursued strategies for increasing that illegal consumption.

    • (Score: 3, Funny) by HiThere on Tuesday September 10 2019, @07:59PM

      by HiThere (866) Subscriber Badge on Tuesday September 10 2019, @07:59PM (#892332) Journal

      Technically, if you own more than 10%? 20%? (some particular number in that range.) of the stock you are liable for the misdeeds of the corporation. This doesn't mean that particular part of the law is always enforced, but it can be.

      --
      Javascript is what you use to allow unknown third parties to run software you have no idea about on your computer.
  • (Score: 2, Insightful) by fustakrakich on Tuesday September 10 2019, @04:11AM

    by fustakrakich (6150) on Tuesday September 10 2019, @04:11AM (#892061) Journal

    Who are these people? The Taliban?

    There should be indictments, not dialog!

    The corruption is really getting thick, just a little too obvious... and still, they will win

    --
    La politica e i criminali sono la stessa cosa..
  • (Score: 5, Interesting) by Barenflimski on Tuesday September 10 2019, @05:02AM (9 children)

    by Barenflimski (6836) on Tuesday September 10 2019, @05:02AM (#892076)

    What Purdue and the rest did wasn't right but I think this misses the point. People do drugs for their mental health. People are lonely and bored with not a lot of options. When people become lonely and there is nothing else to do but watch TV, they do drugs en masse. Does bankrupting Purdue help the people?

    These types of lawsuits don't end up accomplishing much. Some lawyers will get name recognition. A lot of money will trade hands by politicians, governments and corporations. Some new laws will be made. A few DA's will be promoted. Everyone involved will talk about what they did to solve the Opiate crisis. A very small amount of this money will actually go to helping anyone directly.

    If I am to believe this is to help the people, I expect drug treatment houses will spring up every mile through West Virginia and Ohio providing free care until these addictions are undone. We all know that isn't going to happen. What will happen is the money will be handed over to the governments. People will be told they are drug addicts and that by relying on the states for money and support they are terrible people. Medications will be more expensive and there will be one less player in the already corrupt drug market. In the end the people still alive still lose.

    • (Score: 2) by c0lo on Tuesday September 10 2019, @06:05AM (2 children)

      by c0lo (156) Subscriber Badge on Tuesday September 10 2019, @06:05AM (#892096) Journal

      People are lonely and bored with not a lot of options. When people become lonely and there is nothing else to do but watch TV...

      Say... what? Who the fuck needs TV today?
      Even the very existence of the incel masses disproves you, they did find a way of life that doesn't involve physical presence; if they can be alone without being lonely, so can others.

      Can have HD porn streamed without effort.
      Have heaps of free-to-play games.
      Have heaps of forums to troll and heaps of decent people to doxx and SWAT. And you can find nutjobs on the Internet for any and all style of nuttyness, flat-earthers and alt-right included.
      You can express your cavernous** existence on Twitter and YouTube and Instagram and... and still get some income from ads.
      Worse come to worst, you can go school-shooting and stream your 30 minutes of fame on the internet and you'll still generate interest.

      (large grin)

      ---

      *** that's worse than empty

      --
      https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
      • (Score: 2) by Immerman on Tuesday September 10 2019, @01:46PM (1 child)

        by Immerman (3985) on Tuesday September 10 2019, @01:46PM (#892204)

        Um, I think the whole point of the involuntary part of "incel" is that they *can't* be alone without being lonely...

        Plenty of people can't get laid, but I've only ever heard the incel moniker pointed at the ones who are vocally bitter about the situation.

        • (Score: 2) by HiThere on Tuesday September 10 2019, @08:01PM

          by HiThere (866) Subscriber Badge on Tuesday September 10 2019, @08:01PM (#892333) Journal

          Actually, I don't think "incel" has a well defined meaning, and I heard it used for someone with only the justification that the speaker (well, writer) didn't like them.

          --
          Javascript is what you use to allow unknown third parties to run software you have no idea about on your computer.
    • (Score: 2, Interesting) by Anonymous Coward on Tuesday September 10 2019, @07:09AM (4 children)

      by Anonymous Coward on Tuesday September 10 2019, @07:09AM (#892109)

      Some of us do drugs for our physical health. As in the kind where the doctor looks at the x-rays and says, "Yeah, that's almost bone on bone. How are you still walking?" and I reply, "the hydrocodone really does help, Doc." Of course, I don't get any of that horrible horrible life-permitting stuff anymore.

      Soon I'll probably be using the medical marijuana. Since every pot smoker I ever met was a, well, pothead (that is, moron), I suppose I'll soon have to send back my Mensa card. At least maybe I'll finally start to fit in down at the Walmart once my brain dies.

      I know you're all tired of my AC bitching about this. Soon I'll be too stupid to type and you won't have to read about it anymore.

      • (Score: 0) by Anonymous Coward on Tuesday September 10 2019, @11:19AM (1 child)

        by Anonymous Coward on Tuesday September 10 2019, @11:19AM (#892164)

        And then out of desperation you turn to hypnosis and discover you can teach your brain to ignore the pain signals. Then you attempt to rebuild your life while hating the medical industry. A few months of $100 sessions or a life long drug additction with side effects. Your choice.

        • (Score: 0) by Anonymous Coward on Wednesday September 11 2019, @05:37AM

          by Anonymous Coward on Wednesday September 11 2019, @05:37AM (#892552)

          I'm teaching my brain to ignore stupid posts but it won't stick. Any suggestions?

      • (Score: 3, Insightful) by Rupert Pupnick on Tuesday September 10 2019, @05:19PM

        by Rupert Pupnick (7277) on Tuesday September 10 2019, @05:19PM (#892273) Journal

        Seriously? I think you might be overreacting a bit.

        Has every non-pot smoker you've ever met been someone who completely abstains from cannabis?

        How could you tell without asking?

      • (Score: 1, Interesting) by Anonymous Coward on Tuesday September 10 2019, @05:58PM

        by Anonymous Coward on Tuesday September 10 2019, @05:58PM (#892283)

        Yes, you'll become a walking stereotype as soon as you touch the devil's lettuce.

        Or maybe you're just becoming a senile old man and that's why you need help to eat jello.

    • (Score: 4, Informative) by barbara hudson on Tuesday September 10 2019, @07:31PM

      by barbara hudson (6443) <barbara.Jane.hudson@icloud.com> on Tuesday September 10 2019, @07:31PM (#892315) Journal

      It's never been shown that drugs help depression, despite their use for 60 years. The UN has recommended that people stop that shit of medicalizing depression.

      It's time we realize that people will be depressed when their lives go to shit, and drugging their brains so it doesn't bother them so much doesn't fix the underlying problems, which are almost always socio-economic in nature.

      If antidepressants cured depression, we wouldn't have more than 10% of the world's adult population on them, and on a treadmill of ever-increasing doses and changes in drug cocktails.

      The whole "dopamine-serotonin" link has never been proven. People with naturally low levels of serotonin in the brain aren't depressed. It's a fairy tail, and people are getting permanently fucked up by it, same as Oxycontin.

      --
      SoylentNews is social media. Says so right in the slogan. Soylentnews is people, not tech.
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