Purdue Pharma to Dissolve as Judge Approves Criminal Sentence
Purdue Pharma, the maker of OxyContin, is set to dissolve and be replaced by a new company focused on public good as a vast legal settlement resolves thousands of lawsuits. A federal judge delivered a criminal sentence to the company, admitting to a sophisticated crime scheme that fueled the opioid epidemic. Despite acknowledging the profound suffering caused, the judge expressed sympathy for victims while noting that no individuals will face punishment. The settlement includes billions in payments from the Sackler family and Purdue, with much of the funds earmarked for combating the opioid crisis and providing some compensation to individual victims.
John Q. Hosedrinker