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Sandflee

Purdue Pharma

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seems on the heels of the settlement of 500+ million against Johnson and Johnson, Purdue has made an offer to settle the 2,000+ lawsuits against the manufacturer 

 

OUCH...

 

Aug 27 (Reuters) - OxyContin maker 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,

 

Purdue said it was actively working with state attorneys general and other plaintiffs to reach a resolution, without specifying a settlement amount.

The potential deal was part of confidential meeting held in Cleveland last week between state attorneys general, plaintiffs' attorneys and Purdue's lawyers, the report said citing two people familiar with the mediation.

The lawsuits have accused the Stamford, Connecticut-based company of aggressively marketing prescription opioids while misleading prescribers and consumers about risks from their prolonged use.

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4 mins ago, AlwaysWading said:

A friend works for Purdue, he sells replacement joints, hips ,knees etc. I know 10 billion sounds like a lot ,but for them it's chump change..

yes, it's peanuts for them, one of the richest families in the US

Edited by Sandflee

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Re. J&J...

 

It was NOT a settlement.  A judge awarded monetary damages on a ruling that this was a "public nuisance".  Never in the history of the Oklahoma legal system have monetary damages been awarded for the abatement of a public nuisance.  OK public nuisance laws are for property disputes.  No way this survives appeal.  As a side note, J&J is responsible for less than 1 percent of all opioid sales in OK.  This will all play out differently in federal court in October.  J&J will look like Girl Scouts selling cookies compared to Purdue and others...

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28 mins ago, Sandflee said:

they will likely claim Bankruptcy 

I don't think so.

 

1 min ago, Billybob said:

I thought everyone knew about the problems with prolonged use for a very long time - no?

 

yeah, it's not like it's secret 

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11 mins ago, Billybob said:

I thought everyone knew about the problems with prolonged use for a very long time - no?

 

Well that guy on the TV commercials does read all the side effects REALLY really fast...  

Edited by Kneel

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16 hours ago, Billybob said:

I thought everyone knew about the problems with prolonged use for a very long time - no?

If you smoke cigarettes YOU have a problem. It's not "big tobacco's" fault.
If you drink to excess YOU have a problem. It's not the bartender's fault.
If you shoot someone YOU are the problem. It's not the gun manufacturer's fault.
If you're a junkie YOU have a problem. It's not "El Chapo's" fault.
If YOU fail in school. It's not the school's fault.
If YOU get addicted to pills. It's not the doctor's or the drug company's fault.

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16 hours ago, Gloucester2 said:

I think the legal theory is Purdue and others knew it from their trials/research and never disclosed it as a potential "side effect"

Everyone has known since forever that opioids are addictive.

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18 mins ago, Joe said:

If you smoke cigarettes YOU have a problem. It's not "big tobacco's" fault.
If you drink to excess YOU have a problem. It's not the bartender's fault.
If you shoot someone YOU are the problem. It's not the gun manufacturer's fault.
If you're a junkie YOU have a problem. It's not "El Chapo's" fault.
If YOU fail in school. It's not the school's fault.
If YOU get addicted to pills. It's not the doctor's or the drug company's fault.

 

17 mins ago, Joe said:

Everyone has known since forever that opioids are addictive.

Any one that does not agree is clueless.

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18 hours ago, Kneel said:

Re. J&J...

 

It was NOT a settlement.  A judge awarded monetary damages on a ruling that this was a "public nuisance".  Never in the history of the Oklahoma legal system have monetary damages been awarded for the abatement of a public nuisance.  OK public nuisance laws are for property disputes.  No way this survives appeal.  As a side note, J&J is responsible for less than 1 percent of all opioid sales in OK.  This will all play out differently in federal court in October.  J&J will look like Girl Scouts selling cookies compared to Purdue and others...

Girl Scouts,  more like El Chapo.

 

Johnson & Johnson profited further as demand for opioids surged by buying poppy growing companies in Australia to supply the raw narcotic for its own medicines and other American drug makers. 60% market share

“I think it’s fair to characterize Johnson & Johnson as a kingpin in our opioid crisis,” he said.

Purdue Pharma kickstarted the epidemic with its high-strength, long-lasting opioid, OxyContin, in the mid-1990s. The court heard how Johnson & Johnson quickly realized the potential and set about competing.

Its drug division, Janssen, was founded by Paul Janssen, a Belgian who invented an artificial opioid, fentanyl, in 1960. In the early 1990s, Janssen Pharmaceuticals was selling a fentanyl patch, Duragesic, to treat severe pain in people with cancer. But with the arrival of OxyContin, the company aggressively widened the market for Duragesic by falsely claiming there was a very low risk of addiction to the drug, according to Hunter.

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