Purdue Pharma offers $10 billion to $12 billion to settle opioid claims

The other shoe drops..Big Pharma..buying America off!!

Purdue Pharma offers $10 billion to $12 billion to settle opioid claims

"Purdue Pharma and its owners, the Sackler family, are offering to settle more than 2,000 lawsuits against the company for $10 billion to $12 billion. The potential deal was part of confidential conversations and discussed by Purdue's lawyers at a meeting in Cleveland last Tuesday, Aug. 20, according to two people familiar with the mediation.
Brought by states, cities and counties, the lawsuits — some of which have been combined into one massive case — allege the company and the Sackler family are responsible for starting and sustaining the opioid crisis.
At least 10 state attorneys general and the plaintiffs’ attorneys gathered in Cleveland, where David Sackler represented the Sackler family, according to two people familiar with the meeting. David Sackler, who was a board member of the company, has recently been the de facto family spokesperson.
The lawsuits that Purdue and the Sacklers are seeking to settle allege that their company’s sales practices were deceptive and at least partly responsible for the opioid crisis, which claimed more than 400,000 lives from 1999 to 2017, according to the Centers for Disease Control and Prevention. Some of the lawsuits also allege that after 2007 the Sackler family drained the company of money to enrich themselves.
“The Sackler family built a multibillion-dollar drug empire based on addiction,” New Jersey Attorney General Gurbir Grewal said in May when his state joined others in suing the Sackler family and their company. Massachusetts Attorney General Maura Healey was the first to name family members in her suit in January.
Purdue Pharma, which makes the opioid painkiller OxyContin, and the Sackler family have denied the allegations laid out in the lawsuits.
In a statement to NBC News, the company said: "While Purdue Pharma is prepared to defend itself vigorously in the opioid litigation, the company has made clear that it sees little good coming from years of wasteful litigation and appeals.""
The people are dropping from the STREET Heroin from South America not drugs you buy at the store. They are trying to defend on how the sold them. I used them for 33 years and quit and had no side effects, that was because the dose was correct for the amount of pain I had, now after 4 years I am going to have to go back on them since my spine is collasping and I am going to have to get two metal plates installed.
 
The other shoe drops..Big Pharma..buying America off!!

Purdue Pharma offers $10 billion to $12 billion to settle opioid claims

"Purdue Pharma and its owners, the Sackler family, are offering to settle more than 2,000 lawsuits against the company for $10 billion to $12 billion. The potential deal was part of confidential conversations and discussed by Purdue's lawyers at a meeting in Cleveland last Tuesday, Aug. 20, according to two people familiar with the mediation.
Brought by states, cities and counties, the lawsuits — some of which have been combined into one massive case — allege the company and the Sackler family are responsible for starting and sustaining the opioid crisis.
At least 10 state attorneys general and the plaintiffs’ attorneys gathered in Cleveland, where David Sackler represented the Sackler family, according to two people familiar with the meeting. David Sackler, who was a board member of the company, has recently been the de facto family spokesperson.
The lawsuits that Purdue and the Sacklers are seeking to settle allege that their company’s sales practices were deceptive and at least partly responsible for the opioid crisis, which claimed more than 400,000 lives from 1999 to 2017, according to the Centers for Disease Control and Prevention. Some of the lawsuits also allege that after 2007 the Sackler family drained the company of money to enrich themselves.
“The Sackler family built a multibillion-dollar drug empire based on addiction,” New Jersey Attorney General Gurbir Grewal said in May when his state joined others in suing the Sackler family and their company. Massachusetts Attorney General Maura Healey was the first to name family members in her suit in January.
Purdue Pharma, which makes the opioid painkiller OxyContin, and the Sackler family have denied the allegations laid out in the lawsuits.
In a statement to NBC News, the company said: "While Purdue Pharma is prepared to defend itself vigorously in the opioid litigation, the company has made clear that it sees little good coming from years of wasteful litigation and appeals.""
/—-/ They were blackmailed and will go out of business.


They really don't have a choice in the matter. The government is after the company
 
The other shoe drops..Big Pharma..buying America off!!

Purdue Pharma offers $10 billion to $12 billion to settle opioid claims

"Purdue Pharma and its owners, the Sackler family, are offering to settle more than 2,000 lawsuits against the company for $10 billion to $12 billion. The potential deal was part of confidential conversations and discussed by Purdue's lawyers at a meeting in Cleveland last Tuesday, Aug. 20, according to two people familiar with the mediation.
Brought by states, cities and counties, the lawsuits — some of which have been combined into one massive case — allege the company and the Sackler family are responsible for starting and sustaining the opioid crisis.
At least 10 state attorneys general and the plaintiffs’ attorneys gathered in Cleveland, where David Sackler represented the Sackler family, according to two people familiar with the meeting. David Sackler, who was a board member of the company, has recently been the de facto family spokesperson.
The lawsuits that Purdue and the Sacklers are seeking to settle allege that their company’s sales practices were deceptive and at least partly responsible for the opioid crisis, which claimed more than 400,000 lives from 1999 to 2017, according to the Centers for Disease Control and Prevention. Some of the lawsuits also allege that after 2007 the Sackler family drained the company of money to enrich themselves.
“The Sackler family built a multibillion-dollar drug empire based on addiction,” New Jersey Attorney General Gurbir Grewal said in May when his state joined others in suing the Sackler family and their company. Massachusetts Attorney General Maura Healey was the first to name family members in her suit in January.
Purdue Pharma, which makes the opioid painkiller OxyContin, and the Sackler family have denied the allegations laid out in the lawsuits.
In a statement to NBC News, the company said: "While Purdue Pharma is prepared to defend itself vigorously in the opioid litigation, the company has made clear that it sees little good coming from years of wasteful litigation and appeals.""
Better yet: confiscate their patents.


That really wouldn't be necessary. If Purdue is put out of business by governmental lawsuits, other companies aren't going to be interested in manufacturing Oxycodone or similar formulations at all. The patent won't be worth the paper its printed on.
 
The other shoe drops..Big Pharma..buying America off!!

Purdue Pharma offers $10 billion to $12 billion to settle opioid claims

"Purdue Pharma and its owners, the Sackler family, are offering to settle more than 2,000 lawsuits against the company for $10 billion to $12 billion. The potential deal was part of confidential conversations and discussed by Purdue's lawyers at a meeting in Cleveland last Tuesday, Aug. 20, according to two people familiar with the mediation.
Brought by states, cities and counties, the lawsuits — some of which have been combined into one massive case — allege the company and the Sackler family are responsible for starting and sustaining the opioid crisis.
At least 10 state attorneys general and the plaintiffs’ attorneys gathered in Cleveland, where David Sackler represented the Sackler family, according to two people familiar with the meeting. David Sackler, who was a board member of the company, has recently been the de facto family spokesperson.
The lawsuits that Purdue and the Sacklers are seeking to settle allege that their company’s sales practices were deceptive and at least partly responsible for the opioid crisis, which claimed more than 400,000 lives from 1999 to 2017, according to the Centers for Disease Control and Prevention. Some of the lawsuits also allege that after 2007 the Sackler family drained the company of money to enrich themselves.
“The Sackler family built a multibillion-dollar drug empire based on addiction,” New Jersey Attorney General Gurbir Grewal said in May when his state joined others in suing the Sackler family and their company. Massachusetts Attorney General Maura Healey was the first to name family members in her suit in January.
Purdue Pharma, which makes the opioid painkiller OxyContin, and the Sackler family have denied the allegations laid out in the lawsuits.
In a statement to NBC News, the company said: "While Purdue Pharma is prepared to defend itself vigorously in the opioid litigation, the company has made clear that it sees little good coming from years of wasteful litigation and appeals.""
The people are dropping from the STREET Heroin from South America not drugs you buy at the store. They are trying to defend on how the sold them. I used them for 33 years and quit and had no side effects, that was because the dose was correct for the amount of pain I had, now after 4 years I am going to have to go back on them since my spine is collasping and I am going to have to get two metal plates installed.
/----/ sorry man, feel better.
 
The other shoe drops..Big Pharma..buying America off!!

Purdue Pharma offers $10 billion to $12 billion to settle opioid claims

"Purdue Pharma and its owners, the Sackler family, are offering to settle more than 2,000 lawsuits against the company for $10 billion to $12 billion. The potential deal was part of confidential conversations and discussed by Purdue's lawyers at a meeting in Cleveland last Tuesday, Aug. 20, according to two people familiar with the mediation.
Brought by states, cities and counties, the lawsuits — some of which have been combined into one massive case — allege the company and the Sackler family are responsible for starting and sustaining the opioid crisis.
At least 10 state attorneys general and the plaintiffs’ attorneys gathered in Cleveland, where David Sackler represented the Sackler family, according to two people familiar with the meeting. David Sackler, who was a board member of the company, has recently been the de facto family spokesperson.
The lawsuits that Purdue and the Sacklers are seeking to settle allege that their company’s sales practices were deceptive and at least partly responsible for the opioid crisis, which claimed more than 400,000 lives from 1999 to 2017, according to the Centers for Disease Control and Prevention. Some of the lawsuits also allege that after 2007 the Sackler family drained the company of money to enrich themselves.
“The Sackler family built a multibillion-dollar drug empire based on addiction,” New Jersey Attorney General Gurbir Grewal said in May when his state joined others in suing the Sackler family and their company. Massachusetts Attorney General Maura Healey was the first to name family members in her suit in January.
Purdue Pharma, which makes the opioid painkiller OxyContin, and the Sackler family have denied the allegations laid out in the lawsuits.
In a statement to NBC News, the company said: "While Purdue Pharma is prepared to defend itself vigorously in the opioid litigation, the company has made clear that it sees little good coming from years of wasteful litigation and appeals.""
The people are dropping from the STREET Heroin from South America not drugs you buy at the store. They are trying to defend on how the sold them. I used them for 33 years and quit and had no side effects, that was because the dose was correct for the amount of pain I had, now after 4 years I am going to have to go back on them since my spine is collasping and I am going to have to get two metal plates installed.


The problem isn't Dilaudid or Oxycontin or any other drugs. The problem is that some doctors give huge scripts for minor problems.

Opioids have been known to be addictive since I was a kid
 
Percocets have been around since I was a young man, and have been a subject of abuse for that long as well.

Of course, the psychoactive ingredient in percocet is Oxycodone.

The abuse factor has been known for long, long time. Pretending like its addictiveness was a closely held trade secret by Purdue is just bullshit.
 
The latest--talks fail as the the Sackler family refuse to guarantee cash settlements--it appears they have sent most of their personal assets overseas and intend to file bankruptcy:

Email: Opioid talks fail, Purdue bankruptcy filing expected

"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.
It's not entirely clear what a breakdown in settlement talks with Purdue means for the Sackler family, which is being sued separately by at least 17 states.
Those lawsuits are likely to continue but face a significant hurdle because it's believed the family — major donors to museums and other cultural institutions around the world — has transferred most of its multibillion-dollar fortune overseas.
Pennsylvania Attorney General Josh Shapiro, who was one of the four state attorneys general negotiating with Purdue and the Sacklers, said Saturday he intends to sue the Sackler family, as other states have.
"I think they are a group of sanctimonious billionaires who lied and cheated so they could make a handsome profit," he said. "I truly believe that they have blood on their hands."
In March, Purdue and members of the Sackler family reached a $270 million settlement with Oklahoma to avoid a trial on the toll of opioids there. The Sacklers could not immediately be reached for comment Saturday."
 
The latest--talks fail as the the Sackler family refuse to guarantee cash settlements--it appears they have sent most of their personal assets overseas and intend to file bankruptcy:

Email: Opioid talks fail, Purdue bankruptcy filing expected

"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.
It's not entirely clear what a breakdown in settlement talks with Purdue means for the Sackler family, which is being sued separately by at least 17 states.
Those lawsuits are likely to continue but face a significant hurdle because it's believed the family — major donors to museums and other cultural institutions around the world — has transferred most of its multibillion-dollar fortune overseas.
Pennsylvania Attorney General Josh Shapiro, who was one of the four state attorneys general negotiating with Purdue and the Sacklers, said Saturday he intends to sue the Sackler family, as other states have.
"I think they are a group of sanctimonious billionaires who lied and cheated so they could make a handsome profit," he said. "I truly believe that they have blood on their hands."
In March, Purdue and members of the Sackler family reached a $270 million settlement with Oklahoma to avoid a trial on the toll of opioids there. The Sacklers could not immediately be reached for comment Saturday."



I'm sure that the Sackler family will do what they can to keep their money. Since I am not a high priced lawyer, I don't know what the legal case for the Sacklers looks like, but since the government has unlimited resources to drag the citizens through an expensive legal process- the attorneys are likely to get most of the money even if the government's case is without merit.

But the result will be the same, the price of prescriptions, particularly narcotic pain killers will go through the roof. The costs the Sackler family is enduring will be built into the cost of pharmacueticals. A lot of drug makers are not going to be so interested in manufacturing oxycodone, hydrocodone, morphine, codeine or fentanyl at any price.

In my view, its ridiculous. I knew as a teenager that opiates were addictive. Why didn't the doctors who prescribed them or the patients who took them?
 

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