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News in-depthFT Investigations
Oxford university stuck with Sacklers as opioid deaths led others to cut ties
...The boat race event took place one month after the Sackler owners of Purdue Pharma and US states agreed on a $6bn settlement to resolve litigation alleging they fuelled the opioid crisis....
February 20, 2023
Bankruptcy
The US scourge of venue shopping
...The notorious Purdue Pharma case was also selectively filed in a one-judge venue in an apparent attempt to benefit from the presiding judge’s previous rulings in other cases that would allow the Sackler...
March 28, 2024
FT Live
US Pharma and Biotech Summit
Strategies for innovation, pricing and access
Thursday, 16 MayNew York, NY, USA
Due Diligence
KKR dragged into another Bill Ackman drama Premium content
...Pharma confab returns with more swagger Some 8,000 lanyarded pharma executives, bankers and investors descended on a drizzly downtown San Francisco this week for the annual JPMorgan Healthcare Conference...
January 11, 2024
Purdue Pharma LP
US Supreme Court grapples with Sackler liability releases in Purdue bankruptcy
...The Supreme Court on Monday questioned the Department of Justice’s effort to invalidate a settlement in the bankruptcy of Purdue Pharma that would shield members of the company’s founding Sackler family...
December 4, 2023
Blackstone Group LP
How the tyres fell off a Blackstone private credit deal Premium content
...Big companies including Purdue Pharma, Johnson & Johnson and 3M have used the US bankruptcy system as a way to limit their exposure to compensation claims....
October 5, 2023
McKinsey
McKinsey pays out another $230mn to settle opioid cases
...Plaintiffs alleged McKinsey’s advice to clients such as Purdue Pharma, the maker of OxyContin, had directly contributed to the opioid crisis....
September 27, 2023
FT Live
Global Pharma and Biotech Summit
Driving life sciences innovation in a disrupted world
Tuesday, 5 NovemberIn-Person & Online Conference
US opioid epidemic
Purdue Pharma allowed to shield Sackler owners from opioid lawsuits
...Members of the Sackler family who own Purdue Pharma can be shielded from lawsuits linked to the US opioid crisis in exchange for payments worth up to $6bn, appellate judges have ruled in a reversal of a...
May 30, 2023
Purdue Pharma LP
Supreme Court halts $6bn Purdue opioid settlement in blow to Sacklers
...The Supreme Court has put on hold Purdue Pharma’s $6bn bankruptcy settlement that would shield members of the Sackler family who own the company from future lawsuits linked to the US opioid crisis....
August 10, 2023
LexBankruptcy
Sacklers/Purdue: judges do not want perfect to be enemy of good Premium content
...Some members of the dynasty behind Purdue Pharma had secured the releases by putting around $6bn into a settlement with victims....
May 31, 2023
University of Oxford
Oxford university drops Sackler name from buildings after investigation
...Most other prominent arts and academic institutions severed relationships with the billionaire owners of Purdue Pharma between 2019 and 2022, after public outcry over their role in the deadly US opioids...
May 16, 2023
US opioid epidemic
Sackler owners offer up to $6bn to settle Purdue Pharma bankruptcy
...Members of the Sackler family who own Purdue Pharma have offered up to $6bn to resolve the company’s bankruptcy settlement, two months after a federal judge overturned it due to a provision that protected...
February 18, 2022
US opioid epidemic
Judge overturns $4.5bn opioid-related settlement in Purdue Pharma bankruptcy
...A federal judge has overturned Purdue Pharma’s $4.5bn bankruptcy settlement, citing a provision protecting the controlling Sackler family from civil liability over the opioid epidemic that was ruled invalid...
December 17, 2021
Pharmaceuticals sector
McKinsey rebuts conflict claims over work for health regulator and opioid makers
...It alleged the consultancy used government work to solicit more business from drug companies including Purdue Pharma, which is owned by members of the Sackler family and made the powerful painkiller OxyContin...
April 27, 2022
Purdue Pharma LP
Purdue and US states agree new $6bn settlement for opioid litigation
...Carl Tobias, professor of law at University of Richmond, said the settlement could mark the end of the long-running Purdue Pharma bankruptcy....
March 3, 2022
Carlyle Group LP
Carlyle appoints top Indian banker Aditya Puri as senior adviser
...Carlyle’s Asia portfolio includes McDonald’s China, an investment in the credit card unit of India’s largest bank — State Bank of India — and a stake in pharmaceutical group Piramal Pharma....
November 2, 2020
FT Live
Due Diligence Live
Where leaders in investment and finance meet
Tuesday, 8 OctoberLondon, UK
US opioid epidemic
Sackler name to be removed from Metropolitan Museum of Art galleries
...The Sacklers’ family-founded company, Purdue Pharma, manufactured and marketed OxyContin, a highly addictive pain medication that has been at the centre of America’s opioid epidemic....
December 9, 2021
LexPurdue Pharma LP
Sacklers/opioids: upended bankruptcy will be good for lawyers and perhaps no one else Premium content
...The family behind Purdue Pharma, the creator of the opioid OxyContin, believed $4.5bn was enough to buy its way out of trouble....
December 17, 2021
InterviewTelevision
‘We’ve been screaming’: the makers of Dopesick on reframing the opioid crisis
...Purdue Pharma was forced into bankruptcy, some museums dissociated themselves from Sackler philanthropy....
November 4, 2021
Purdue Pharma LP
Sacklers shielded from future lawsuits in Purdue settlement
...Members of the Sackler family who own Purdue Pharma have been granted immunity from future opioid lawsuits after a US judge approved a bankruptcy settlement for the drugmaker....
September 1, 2021
News in-depthUS opioid epidemic
Purdue’s bankruptcy deal shields Sackler family owners from future opioid liability
...Members of the Sackler family who own Purdue Pharma will pay $4.5bn under a plan to settle the bankruptcy of the company that invented the powerful pain drug OxyContin....
August 8, 2021
FT CollectionsData rich: the numbers behind corporate news
The CEOs delivering consistent shareholder returns
...GSK’s Emma Walmsley is also struggling to keep up with peers, almost 30 percentage points a year behind pharma rival Sigurdur Olafsson of Hikma....
October 22, 2021
Mergers & Acquisitions
Pharma and healthcare in merger buzz as two £1bn deals agreed
...Buyout groups are interested in the pharma and healthcare sector because it is considered more resilient to downturns than others and better placed to benefit from demographic changes such as ageing populations...
May 26, 2021
US opioid epidemic
Purdue secures backing from more states for settlement
...In an attempt to secure the holdout states’ support and clear the path towards an exit from bankruptcy, Sackler family members who own Purdue Pharma increased the amount of cash they would contribute to...
July 8, 2021
US opioid epidemic
Sackler family offers to pay $4.3bn in bankruptcy settlement
...The company argued the bankruptcy settlement is the best solution, in part because there have been no offers to buy Purdue Pharma....
March 16, 2021
ReviewFT Books Essay
Empire of Pain — the story of the Sacklers and OxyContin
...Less publicised was how the money for many of the donations flowed from Purdue Pharma, a Connecticut-based drugs company owned by two of the Sackler brothers and their families (who also owned the UK maker...
April 28, 2021

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