OxyContin pills. Photo: PureRadiance/Shutterstock.com
The U.S. Department of Justice announced Wednesday it had closed criminal and civil investigations with Stamford-based Purdue Pharma and that the company had agreed to plead guilty to three federal criminal charges and pay more than $8 billion.
The resolution with the Big Pharma company, which has been under scrutiny from the federal government and dozens of attorneys general for how it marketed opioids, specifically OxyContin, is subject to the approval of a bankruptcy court. If approved, the company will dissolve, with its assets being used to create a "public benefit company" whose profits will be used to pay off the fines and combat the opioid crisis.
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Robert Storace
Robert Storace covers legal trends, lawsuits and analysis for the Connecticut Law Tribune. Follow him on Twitter @RobertSCTLaw or reach him at 203-437-5950.
