OxyContin maker Purdue Pharma was sentenced on Tuesday to $5.5 billion in fines and penalties stemming from its 2020 guilty plea to charges of deceiving government regulators and paying kickbacks to doctors to boost opioid sales.
The sentencing in New Jersey federal court clears the way for the company to dissolve in bankruptcy and use its assets to fund a $7.4 billion settlement intended to compensate people harmed by the opioid epidemic.
Before accepting the plea deal, U.S. District Judge Madeline Cox Arleo in Newark heard nearly seven hours of testimony from people who wanted to speak up about the company’s role in fueling the opioid epidemic in the United States. Over 200 victims sent letters to the court with personal stories of addiction and loss, and more than 40 spoke up in the courtroom.
Arleo directed Purdue Chairman Steve Miller to apologize directly to victims in the courthouse, which he did, saying the company “deeply regrets and accepts responsibility” for past misconduct.
“We are deeply apologetic for all of the things that happened that were described in colorful detail by all the victims here today,” Miller said.
