Oxycontin settlement approved
Yesterday, a federal district court judge approved an OxyContin settlement, where the drug maker and three company executives will pay a $634.5 million fine, be placed on probation and perform community service for their actions in misleading the public about the powerful painkiller’s risk of addiction.
>>PRIOR POST 6/25/07: OxyContin Settlement
In May, Purdue Pharma, its former president, top lawyer and former chief medical officer pled guilty to misdemeanor criminal charges of misbranding Oxycontin, by making false and misleading statements that the drug was not as addictive or likely to be abused as other pain medications. In reality, the drug is highly addictive, and many individuals who were given the drug for moderate pain management suffered life-ruining addiction, overdose and death.
U.S. District Judge James Jones issued his decision following a hearing to determine whether the settlement should be approved, or if jail time should be required. Several people testified at the hearing about the impact OxyContin addiction has had on their lives or the lives of their loved ones.
OxyContin is a time-released form of the painkiller oxycodon. Between 1996 and 2001, the number of deaths related to oxycodone increased five times, while the number of OxyContin prescriptions increased by nearly 20 times. The U.S. Drug Enforcement Administration indicated in 2002 that OxyContin caused at least 146 deaths and contributed to 318 more.
According to the terms of the OxyContin settlement approved by the court, company executives will pay $34.5 million and Purdue will pay $600 million. The company will also be placed on probation for five years while each of the three executives will be on probation for three years. The former president, former chief medical officer and Purdue lawyer will each also be required to perform 400 hours of community service geared toward preventing abuse of prescription drugs.
WHO WILL RECEIVE THE OXYCONTIN SETTLEMENT?
The $634.5 million collected as part of the criminal fines will be distributed to law enforcement agencies, Medicare, state Medicaid programs, the federal government, a Virginia prescription monitoring program, as well as individuals who sued the company. Approximately $130 million has been allocated for resolving individual OxyContin lawsuits, but it is possible that the company may need to pay more than this amount to settle their civil liability.
The lawyers at Saiontz & Kirk, P.A. represent individuals who are pursuing OxyContin lawsuits after suffering serious injury or damages as a result of addiction or overdose. New claims are still being reviewed. To determine if you, a friend or family member may be entitled to a recovery, request a free claim evaluation.
UPDATE 9/4/2007: Saiontz & Kirk, P.A. is no longer reviewing potential new OxyContin lawsuits.
