McKinsey & Company, a consulting firm that covers multiple industries including healthcare and life sciences, is under fire for allegedly allowing its employees to work simultaneously for big pharma companies and serve as consultants for the U.S. Food and Drug Administration.
One day after U.S. bankruptcy judge Robert Drain approved an opioid settlement plan that locks Purdue Pharma’s Sackler family into paying about $6 billion into the nationwide fund, family members of those whose lives were devastated by addiction to drugs like OxyContin confronted the de facto face of the nation’s opioid crisis in court.
The Sackler family owners of Purdue Pharma LP reached a deal with nine state attorneys general to pay up to $6 billion in cash to resolve widespread litigation alleging that they fueled the U.S. opioid epidemic, bringing the OxyContin maker closer to exiting bankruptcy.
A mediator in Purdue Pharma’s bankruptcy case on March 2 indicated an agreement was being drafted between the company’s owners and U.S. states pressing for more money to resolve allegations that the OxyContin maker fueled the opioid epidemic.
The Sackler family owners of Purdue Pharma LP proposed a new and larger settlement worth up to $6 billion to resolve allegations that the OxyContin maker and the company’s owners contributed to the deadly U.S. opioid epidemic, a mediator’s report showed on February 18.
A federal judge on Feb. 1 extended a legal shield protecting the Sackler family owners of Purdue Pharma from lawsuits to Feb. 17, as they try to reach a deal with several states to settle sprawling litigation stemming from the U.S. opioid crisis.
Members of the Sackler family who own Purdue Pharma LP are nearing an agreement to boost their more than $4 billion offer to resolve sprawling opioid litigation after negotiating with states that had objected to terms of the OxyContin maker’s bankruptcy reorganization, according to a court filing.
Although the U.S. Bankruptcy Court approved the OxyContin maker’s reorganization plan that freed the Sacklers from greater financial accountability and shielded them from additional lawsuits, the Department of Justice moved to block the Purdue Pharma bankruptcy deal.
A U.S. judge said on Sept. 1 he would approve OxyContin maker Purdue Pharma LP’s bankruptcy reorganization plan, clearing a path to resolve thousands of opioid lawsuits and shielding the company’s wealthy Sackler family owners from future opioid litigation.
Fifteen more states reached an agreement with Purdue Pharma LP and members of its wealthy Sackler family owners that moved the OxyContin maker a step closer to resolving widespread opioid litigation and exiting bankruptcy protection.