At least six pharmaceutical companies in the United States that are involved in distributing or producing opioid painkillers are facing a federal criminal investigation over their alleged role in contributing to the national overdose crisis. The existence of the probe, first reported by The Wall Street Journal on Nov. 26, is in the early stages […]
Opioid Epidemic Cost U.S. Economy $631 Billion over 4 Years…
The opioid crisis in the United States has cost the economy at least $631 billion in just four years, according to a report released earlier this week by the Society of Actuaries, who analyzed non-medical opioid use during this time frame. Most of the costs were attributable to healthcare and premature mortality. Nearly one-third of […]
McKesson Corp., AmerisourceBergen Corp., and Cardinal Health to Pay $18B to Settle Opioid Lawsuits…
Top drug distributors are in discussions to pay $18billion to settle opioid lawsuits, according to reports. McKesson Corp., AmerisourceBergen Corp. and Cardinal Health Inc. would pay the money back over 18 years under the proposed deal, sources told The Wall Street Journal. The litigation was brought by state and local governments who blamed the companies […]
Opioid Doctor Faces up to Life in Prison…
By the time drug enforcement agents swooped into his small medical office in Martinsville, Virginia, in 2017, Dr. Joel Smithers had prescribed about half a million doses of highly addictive opioids in two years. Patients from five states drove hundreds of miles to see him, spending up to 16 hours on the road to get […]
Purdue Pharma Hired PR Firm That Rebranded BP After Deepwater Horizon Spill…
Purdue Pharma, the pharmaceutical firm that manufactures OxyContin and allegedly helped fuel widespread addiction to painkillers, has turned to some of the same corporate spin doctors hired by BP after the 2010 Deepwater Horizon disaster. The relationship was revealed in a legal document disclosed on September 15 when Purdue filed for bankruptcy protection. The filing, […]
Purdue Pharma, Facing Thousands of Lawsuits and Bankruptcy, Wants to Pay ‘Certain Employees’ $34M in Bonuses…
Officials at troubled drugmaker Purdue Pharma say “certain employees” should be paid more than $34 million in bonuses for meeting and exceeding goals over the last three years, even though the company is facing thousands of lawsuits over its role in the nation’s opioid crisis and earlier this week filed for bankruptcy. In a legal […]
Here’s How Oxycontin’s Purdue Pharma’s Bankruptcy Will Affect Pending Litigation…
Purdue Pharma’s recent bankruptcy filing will effectively halt more than 2,000 lawsuits filed against the company, and could mark the beginning of a “potentially endless process,” experts told FOX Business. Arguably most known for making billions in the sale of the highly addictive prescription opioid OxyContin, Purdue Pharma filed for Chapter 11 bankruptcy in White […]
The Sackler Family, OxyContin Heirs, Find Buyer for $6.5M Manhattan Condo…
Purdue Pharma Files for Bankruptcy Amid Deluge of Lawsuits …
Trump Administration Announces Nearly $2 Billion in New Funding to Combat Opioid Crisis…
The Trump administration is awarding nearly $2 billion in new funding to states and local governments to help fight the opioid crisis. Health and Human Services Secretary Alexander Azar says the grants come from money that President Donald Trump secured from Congress last year. Trump says “nothing is more important than defeating the opioid and […]