Econ Extra Credit newsletter #153
The drugmaker will also pay a settlement of more than $8 billion, the Justice Department announced Wednesday.
The nation’s three dominant drug distributors and a big drugmaker have reached a $260 million deal to settle an opioid crisis lawsuit just as the first federal trial over the crisis was due to begin.
A proposed settlement would reportedly see the OxyContin maker declaring bankruptcy and paying big. Is that enough for people on the ground?
Purdue’s promotions exaggerated the drug’s safety and risks of addiction, leaning heavily on one sentence used by sales reps to market the drug to doctors.
Recently unsealed documents shed light on how the maker of OxyContin seems to have relied more on focus groups than on scientific studies to create an aggressive and misleading marketing campaign that helped fuel the national opioid epidemic.
OxyContin is supposed to come off patent and generic drug makers are excited. But, the FDA may put a stop to it all to wait for safer pills.