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Response to groundloop (Original post)

Wed Apr 24, 2019, 03:01 AM

8. They had to pay

$270 mill. in Oklahoma this year. In 2007 it cost them $600 mill. Here's a fascinating article about this lawsuit:


In Guilty Plea, OxyContin Maker to Pay $600 Million


By BARRY MEIER MAY 10, 2007

ABINGDON, Va., May 10 — The company that makes the narcotic painkiller OxyContin and three current and former executives pleaded guilty today in federal court here to criminal charges that they misled regulators, doctors and patients about the drug’s risk of addiction and its potential to be abused.

To resolve criminal and civil charges related to the drug’s “misbranding,” the parent of Purdue Pharma, the company that markets OxyContin, agreed to pay some $600 million in fines and other payments, one of the largest amounts ever paid by a drug company in such a case.

Also, in a rare move, three executives of Purdue Pharma, including its president and its top lawyer, pleaded guilty today as individuals to misbranding, a criminal violation. They agreed to pay a total of $34.5 million in fines.

OxyContin is a powerful, long-acting narcotic that provides relief of serious pain for up to 12 hours. Initially, Purdue Pharma contended that OxyContin, because of its time-release formulation, posed a lower threat of abuse and addiction to patients than do traditional, shorter-acting painkillers like Percocet or Vicodin.

That claim became the linchpin of the most aggressive marketing campaign ever undertaken by a pharmaceutical company for a narcotic painkiller. Just a few years after the drug’s introduction in 1996, annual sales reached $1 billion. Purdue Pharma heavily promoted OxyContin to doctors like general practitioners, who had often had little training in the treatment of serious pain or in recognizing signs of drug abuse in patients.

More:
https://www.nytimes.com/2007/05/10/business/11drug-web.html

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groundloop Apr 2019 OP
Faux pas Apr 2019 #1
Fritz Walter Apr 2019 #4
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Sherman A1 Apr 2019 #2
safeinOhio Apr 2019 #3
ancianita Apr 2019 #5
ck4829 Apr 2019 #7
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canetoad Apr 2019 #8
ck4829 Jul 2019 #9
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