OxyContin maker to plead guilty to federal criminal charges

Full title:

OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company

Link:
www.cnn.com...

Summary:

Purdue Pharma, the company that makes OxyContin is going to agree to three federal criminal charges and will pay a total of $8 billion dollars in fines.

Broken down it is:
$3.5 billion plus an additional $2 billion in past profits in addition to $2.8 billion in civil liability.

The company apparently doesn't have the money to cover it, so it's going to be dissolved and whatever assets are left are going to be used to create a "public benefit company."

Supposedly it's going to seek to serve the public's best interests and not chase max profits.

All that being said it will still be producing painkillers including OcyContin, as well as drugs to treat opioid overdoses.

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Personally, I don't think it's going to do much. I'm pretty skeptical of the whole thing, and think it was just a way to try and put whatever criminal charges that the Sackler family may have been facing onto the company.

Regardless of this though the article does continue to say that the family may still be at risk of facing criminal charges.

Where is the 8 billion going?

originally posted by: vonclod
Where is the 8 billion going?

I don't think there will be an $8billion payout if they go bankrupt.

But I would like to know what happens if you take both if these at the same time...

All that being said it will still be producing painkillers including OcyContin, as well as drugs to treat opioid overdoses.

originally posted by: vonclod
Where is the 8 billion going?

From what I can tell it's all fines related to the criminal charges. As for what the government is going to do with that money.. you know how it goes. Probably lining someone's pocket.

a reply to: AugustusMasonicus

Probably turn into a zombie.

a reply to: vonclod
I'm sure NOT where it is needed.
Rehab for all these people addicted.

As another poster said, probably lining some pockets.

a reply to: AutomateThis1

So, family drains the accounts of $10.7B, company owes $8B and goes bankrupt, zero criminal charges against family who gets away with $10.7B in profits. Oh white collar crime....

originally posted by: dug88
a reply to: AutomateThis1

So, family drains the accounts of $10.7B, company owes $8B and goes bankrupt, zero criminal charges against family who gets away with $10.7B in profits. Oh white collar crime....

Hopefully there is a mechanism to recover that/make them accountable..I won't hold me breath.

originally posted by: AugustusMasonicus

originally posted by: vonclod
Where is the 8 billion going?

I don't think there will be an $8billion payout if they go bankrupt.

But I would like to know what happens if you take both if these at the same time...

All that being said it will still be producing painkillers including OcyContin, as well as drugs to treat opioid overdoses.

Sell the poison, and the cure..win, win!

originally posted by: AutomateThis1

originally posted by: vonclod
Where is the 8 billion going?

From what I can tell it's all fines related to the criminal charges. As for what the government is going to do with that money.. you know how it goes. Probably lining someone's pocket.

You know it..whatever they can squeeze out of them anyway. I just wondered where such a big chuck of change would go..into general revenue..or?

originally posted by: chiefsmom
a reply to: vonclod
I'm sure NOT where it is needed.
Rehab for all these people addicted.

As another poster said, probably lining some pockets.

We can be sure of that..sadly.

originally posted by: vonclod
Sell the poison, and the cure..win, win!

It's just what I always wanted, the government involved with selling drugs, because it worked so well when the government was involved with the railroads, automakers and banking.

I have had quite a few purdue parties in my time. (NEVER been addicted or started shooting up)

The opiate overdose epidemic is not from Percocet's
(which is getting harder and harder for people in REAL NEED AND PAIN TO GET WITH OUT SPECILIAST and having to personally take the prescription to the pharmacy with a 30 day on the dot almost out of medication refills)

The overdose opiate epidemic is DIRECTLY CORRELATED TO CHEAP FENTANYL SMUGGLED FROM CHINA MIXED WITH HERION.....
If you are a heroin addict and your # is cut with CHEAP fentanyl YOUR USUAL DOSE is deadly....


We legalize heroin and addicts know exactly what they are getting without overdosing.
Use the money on the useless war on drugs to help get people clean...


THE BOTTOM LINE

So much for price controls 🦇

originally posted by: starfoxxx
I have had quite a few purdue parties in my time. (NEVER been addicted or started shooting up)

The opiate overdose epidemic is not from Percocet's
(which is getting harder and harder for people in REAL NEED AND PAIN TO GET WITH OUT SPECILIAST and having to personally take the prescription to the pharmacy with a 30 day on the dot almost out of medication refills)

The overdose opiate epidemic is DIRECTLY CORRELATED TO CHEAP FENTANYL SMUGGLED FROM CHINA MIXED WITH HERION.....
If you are a heroin addict and your # is cut with CHEAP fentanyl YOUR USUAL DOSE is deadly....


We legalize heroin and addicts know exactly what they are getting without overdosing.
Use the money on the useless war on drugs to help get people clean...


THE BOTTOM LINE

Well, many people got addicted to oxy, which the drug company pushed..hard! and claimed non addictive..wtf lies!!

Then, when cut off by their doctor, went to the streets.

We legalize heroin and addicts know exactly what they are getting without overdosing.
Use the money on the useless war on drugs to help get people clean...

Agree'd!

a reply to: vonclod

Honestly if they're filing bankruptcy, whatever debt they owe is probably going to end up being covered by taxpayers. So, in my cynical mind I can just imagine the someone in the government just taking taxpayer money writing it off on Purdue Pharma's debt, and it being dispersed through the legal system to line pockets and overpaying some "landscaping" company to cut the same strip of grass everyday. That or acquiring more equipment to harass and spy on citizens.

a reply to: AutomateThis1
Sad, but probably true.

a to: vonclod
Agree much of the blame is to be placed on the manufacturers and the doctors. There are lots of irresponsible Dr that like to push pills when a couple Tylenol would have worked fine.

Have seen the result in a former job of people getting hooked on these when they probably could have went without the prescription. Too much money is involved

a reply to: starfoxxx

The opiate overdose epidemic is not from Percocet's

The overdose opiate epidemic is DIRECTLY CORRELATED TO CHEAP FENTANYL SMUGGLED FROM CHINA MIXED WITH HERION.

How many of those junkies were people who'd never touched an opiate until they were prescribed some percs or oxys?

I also know a few people who may not touch heroin, but they drop 30-40 percs a day just to keep from getting dope sick.

Whether or not people are od'ing from percs or oxys is irrelevant, whether you can sit and take a bunch at parties and not get hooked is also irrelevant.

Legalized opiates are still opiates, they'll suck you in and take your soul and that craving will never go away.

originally posted by: AugustusMasonicus

originally posted by: vonclod
Where is the 8 billion going?

I



But I would like to know what happens if you take both if these at the same time...

All that being said it will still be producing painkillers including OcyContin, as well as drugs to treat opioid overdoses.

It depends. If you take opiates regularly and havena tolerance you will go into immediate withdrawal ifmyou take naltrexone etc... With opiates. But you wont die.

If youre a normal person who accidentally takes too much medication by accident you will still not die but have less of an issue with severe withdrawal symptoms setting in within minutes.