Patrick Radden Keefe writes about how thousands of lawsuits against and several federal investigations of Purdue Pharma and its owners, the Sackler family, may be resolved in a bankruptcy court in White Plains, New York.
Practice Fusion agreed to pay a hundred and forty-five million dollars in fines and forfeiture. The settlement seemed to represent the first half of a two-act drama: if the company was now coöperating with authorities, then the Justice Department would surely turn next to Pharma Co. X—a prospect that became all the more intriguing when Reuters reported, the next day, that the drugmaker’s identity was Purdue Pharma , the maker of the blockbuster opioid OxyContin.
Further funds could be secured, the family suggested, by selling its international businesses and by converting Purdue Pharma into a “public benefit corporation” that would continue to yield revenue—by selling OxyContin and other opioids—but would no longer profit the Sacklers personally.
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