Maker of Oxycontin Pleads Guilty, Agrees to Pay $600 Million in Fines
Purdue Pharma, the company that markets OxyContin, pleaded guilty in a Virginia Federal Court today, admitting that they misled regulators, doctors and patients about the drug's risk of addiction and its potential to be abused. Three executives of the company, including its president and top lawyer, also pleaded guilty as individuals to charges of misbranding. The three agreed to pay fines totalling $34.5 million. "Misbranding" means to mislabel a drug, fraudulently promote it, or market it for an unapproved use.
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