Oxycontin Maker Pleads Guilty-Must Pay $600 Million-Litigation Funding Can Assist Drug Liability Victims
Lawsuit Finance Blog is back after a two week vacation. The lawsuit funding news item of the day has to be the guilty plea entered by the makers of controversial pain medication, Oxycontin, and the fact that they have been ordered to fork over $600 million in fines and other fees.
The company and three current and former executives entered the guilty plea, today, in a Virginia federal court. In their plea, they admit to misleading regulators, doctors and patients about the drug’s risk of addiction and its potential to be abused. The huge criminal and civil fine assessed to the company was related to the drug’s “misbranding,” an activity that also resulted in the guilty pleas of three executives and personal fines of $34.5 million
OxyContin has been marketed as a powerful drug that provides serious pain relief for up to 12 hours. Initially, Purdue Pharma had contended that OxyContin, because of its time-release formulation, posed a lower threat of abuse and addiction to patients than alternative, shorter-acting painkillers. A marketing campaign based upon this contention resulted in annual sales of $1 billion. The drug was heavily and misleadingly to doctors as an appropriate, time release, pain reliever.
Instead, drug abusers soon learned that crushing or chewing a tablet or snorting or injecting it produced a heroin-like high. This resulted in significant addiction rates and increases in drug-related crime.
While this was a criminal, not a civil matter, it is typical of the profits over people mentality of the drug industry. In Michigan, the world headquarters of Lawsuit Financial Corporation, the fact that the drug was FDA approved prevents Michigan residents from pursuing litigation against the drug manufacturer. This is a law that the Michigan legislature must change along with other legal standards that have prevented Michigan residents from receiving justice in Michigan. If you are a Michigan resident, write your state senator and/or state representative and tell them that you want laws that prevent citizen access to our courts abolished.
Lawsuit Financial and its' attorney/director are at the forefront of this fight in Michigan and we are against tort recovery restrictions anywhere in the U.S.. Contact your state or local trial lawyer association (in Michigan, it is the Michigan Association for Justice) or contact the national association, the American Association for Justice.
Lawsuit Financial Corporation provides lawsuit funding for litigants while they wait for their cases to resolve. As indicated above, the law suit funding company is also involved with state and national justice organizations to promote justice for accident victims. For more information or a free analysis of your legal funding situation, call 1-877-377-SUIT (7848) or visit our website at www.lawsuitfinancial.com