Behind the $8.3 billion fine: a painkiller knocks down a pharmaceutical giant

category:Finance
 Behind the $8.3 billion fine: a painkiller knocks down a pharmaceutical giant


According to CCTV financial report, on October 21, 2020, Jeffrey Rosen, deputy secretary of justice of the United States, claimed that in the global settlement agreement announced today, Purdue has admitted to three felonies (including deceiving the United States and violating the federal anti kickback law) between 2009 and 2017. In addition to the three felonies, the company also agreed to pay $3.544 billion in criminal fines and $2 billion in criminal forfeiture, plus $2.8 billion in civil fines. In the end, Purdue pleaded guilty to a triple crime, fined a hefty 54.5 billion yuan and declared bankruptcy.

And behind the storm is a pill for pain - opioids. The story of Purdue is because it started and because it ended.

Success and failure

The birth of oxcontin made Purdue pharmaceutical, and Purdue pharmaceutical was also accused and finally declared bankrupt because of its negative name.

Around 1980, they first developed a painkiller called mscontin. MS is the abbreviation of sulfated morphine, while contin refers to a sustained-release formula developed exclusively by Purdue, which allows the body to slowly absorb the high-dose morphine in the tablets and prolong the efficacy. After coming into the market in the United Kingdom and the United States, it was mainly used for cancer pain relief, and achieved great success rapidly. Therefore, it became the main product of Purdue pharmaceutical.

In 1990, MS Contin was faced with the crisis that the patent was about to expire. Purdue aims to synthesize oxycodone, a synthetic heroin analogue that was born in 1916. Purdue retained the contin part of the sustained-release patent of mescontin, and then replaced sulfated morphine with oxycodone. As a result, oral sustained-release oxycodone - Oxycontin was born.

Although Oxycontin was born to relieve the pain of cancer patients, the capital is for profit. Instead of being satisfied, Purdue increased its sales by lobbying government officials, expanding sales staff and working with doctors, which further promoted drug abuse in the United States.

The popularity of Pudu pharmaceutical company does not mean that it is popular in the world. The brilliant Purdue pharmaceutical company pays for its bad consequences. It seems that legal charges, investigation and bankruptcy declaration are the natural results.

American peoples nightmare

Opioids can not only relieve pain, but also produce a sense of euphoria, prompting people to hope for repeated access. In other words, once contaminated with such drugs become a habit, it is easy to become addicted to drugs. Drugs that were originally made for pain ended up suffering the American people. Whats more, its even more surprising that drug addiction in the United States is so serious.

According to relevant reports disclosed, in 2012, doctors prescribed enough opioids for all American adults to use for a month. People began to die from prescription drug overdose, and by 2016, the number of deaths from prescription opioids had risen to 17087.

In 2015, more than one-third of adults (98 million) took opioids. Many employers take drug tests before hiring new employees, which is enough to show the seriousness of drug addiction and drug abuse.

It is no exaggeration that the cumulative death toll of excessive use of opioids is far more than that of the United States in the two world wars, and the harm of drug abuse to contemporary society is far greater than that of war.

Whats more, the most vulnerable to drugs are the lower middle class in the United States. Deaths associated with legal and illegal opioid overdoses occurred mainly in Americans without a bachelors degree. Since the early 1990s, white people with bachelors degrees have accounted for 9% of accidental drug overdose deaths, while two-thirds of the deaths have only received high school education.

Opioid abuse is mainly in Canada (English speaking population), the United Kingdom (especially Scotland), Australia, Ireland and Sweden. With the exception of Scotland, the tragic consequences of drug abuse in several other countries are negligible compared to those in the United States.

Pharmaceutical companies are the biggest beneficiaries of legal opioids. According to previous public information, Purdue, privately owned by the saxophone family, has sold about $30 billion to $50 billion worth of Oxycontin. Recently released court documents show that the family itself has made 12-13 billion dollars (about 79 billion-85.56 billion yuan) of profits.

Who is responsible for 2.8 million victims?

In 2019, Purdue pharmaceutical declared bankruptcy, and the opioid abuse represented by Oxycontin has already evolved into the most serious public health crisis in the history of the United States. There have been complaints and warnings about opioid drugs. Its just that people pay for the tragic results.

According to the relevant reports of American media, in 2001, the FDA issued a warning to oshcontin, which is the most serious warning for prescription drugs, which means that the U.S. authorities are aware of the risk of Oxycontin to the lives of Americans.

In 2007, Purdue was sued by Virginia state prosecutors, claiming that Purdue used the wrong slogans in the promotion of Oxycontin, suspected of inducing customers and doctors.

Purdue acknowledged the charges and paid a $630 million fine. However, lawsuits against putu have not ended, but have emerged one after another. As of this year, there have been more than 1600 lawsuits.

But these warnings and complaints have not affected the continued development of Purdue pharmaceutical. The ordinary people are still the biggest victims. Who is responsible for them? However, the tragedy can not be attributed to Purdue pharmaceutical company, FDA and American Pain Society. The tragedy is the result of many people conspiracy. Behind the truth is the fact that the status quo of American health care and the so-called free market American economy is no longer for the ordinary people, but is accomplice with enterprises, managers, service providers, government and law, which has caused the situation today. It is even more difficult for doctors to get rid of this disaster, especially in the early days when they inadvertently prescribed excessive prescriptions. And with the marketing campaign of capitalists, doctors have been contributing to drug abuse in the United States. In fact, the drug itself is not wrong, its soothing and analgesic effect for cancer patients can be described as a blessing, but also reflects the progress and pioneering work of human medical research. It can only be said that the wrong people are drug abusers. Source: editor in charge of economic report in the 21st century: Zhong Qiming_ NF5619

But these warnings and complaints have not affected the continued development of Purdue pharmaceutical. The ordinary people are still the biggest victims. Who is responsible for them? However, the tragedy can not be attributed to Purdue pharmaceutical company, FDA and American Pain Society. The tragedy is the result of many people conspiracy.

In fact, the drug itself is not wrong, its soothing and analgesic effect for cancer patients can be described as a blessing, but also reflects the progress and pioneering work of human medical research. It can only be said that the wrong people are drug abusers.