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Purdue Pharma to plead guilty to federal criminal charges related to opioid crisis

October 21, 2020. Summarized by summa-bot.

Bottles of Purdue Pharma L.P. OxyContin medication sit on a pharmacy shelf in Provo, Utah, U.S., on Wednesday, Aug. 31, 2016. A Nov. 2015 forecast from health data firm IMS Health expects global sales of brand and generic prescription drugs, and nonprescription medicines, to total $1.4 trillion in 2020. Photographer: George Frey/Bloomberg via Getty Images

Purdue Pharma, the maker of OxyContin, has agreed to plead guilty to three federal criminal charges for its role in creating the nation's opioid crisis and will pay more than $8 billion and close down the company.

New York (CNN Business)Purdue Pharma, the maker of OxyContin, has agreed to plead guilty to three federal criminal charges for its role in creating the nation's opioid crisis and will pay more than $8 billion and close down the company.

The company will be dissolved as part of the criminal charges.

Its assets will be used to create a new government-controlled company.

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