The OxyContin manufacturer will pay the government $225 million and own up to misleading the DEA and incentivizing doctors to write prescriptions.

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!

1 min read

According to AP, OxyContin maker Purdue Pharma intends to plead guilty to three federal charges levied by the Department of Justice. The charges include conspiracy to defraud the United States — for misleading the Drug Enforcement Administration — and violation of federal anti-kickback laws vis a vis illegal incentivization programs with doctors. 

Purdue, which is owned by the controversial billionaire Sackler family, will immediately remit a $225 million fine to the government, AP reports. But that’s a small piece of billions in total criminal- and civil-liability damages Purdue may still be on the hook for, pending the outcome of a hotly contested bankruptcy hearing

Related: An Investment Opportunity for a Better Pharmaceutical Industry

The pharmaceutical powerhouse, which has innovated numerous prescription painkillers, has become emblematic of the opiod crisis that’s enveloped American lives over the past decade-plus. Opiod-induced overdose deaths more than doubled between 2010-2017, per the National Institute on Drug Abuse. As of 2013, the Sackler family’s worth was estimated at more than $13 billion.

Original article source was posted here