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September 22, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Federal investigation targets Stamford opioid drugmaker Purdue Pharma

Purdue Pharma LP is the subject of a U.S. Department of Justice investigation related to the marketing of its painkiller OxyContin and its potential impact within the nation’s opioid crisis.

The Stamford-headquartered company acknowledged in a statement that it was cooperating with the investigation, which is being conducted by the office of Deirdre M. Daly, the U.S. Attorney for Connecticut.
“Purdue is committed to being part of the solution to our nation’s opioid crisis and has been cooperating with the U.S. Attorney’s investigation,” the company’s statement said. “We will continue to do so until this matter is resolved.”

Daly’s office declined to comment on the investigation, which marks the second time in a decade that Purdue Pharma has been under a federal probe. In 2007, the company and three of its top executives pleaded guilty to federal charges related to misbranding of OxyContin and paid a $634.5 million settlement. Also in 2007, the company also reached a $19.5 million agreement with 26 states and the District of Columbia to settle similar charges.