The Sackler family that are the owners of Purdue Pharma have transferred nearly more than $10 billion in a decade of years from the OxyContin maker to its trusts and holding corporations, the New York Times informed on Monday, citing a new audit commissioned by the drugmaker.
The audit, which was ready by consulting agency Alix Partners, is probably going so as to add further scrutiny on how a lot the Sackler family ought to pay to resolve lawsuits that Purdue Pharma face relating to the US opioid epidemic, the New York Times further added.
The lawsuit filed by local governments and state alleges Purdue and the Sacklers contributed to a public health risk that has claimed the lives of almost 400,000 people since 1999 by aggressively advertising opioids whereas downplaying their addiction and overdose dangers.
The audit reveals that from 2008 through 2017, Purdue’s payouts to the Sackler family totaled $10.7 billion, the report stated. The auditors reported that they didn’t know the way a lot of money distributed to the Sacklers was actually used to pay taxes.
“We need full transparency into their complete assets and should know whether or not they sheltered them in an effort to protect against creditors and victims,” New York Attorney General Letitia James stated.
Purdue reaped as much as $13 billion in profits to Sackler family, the U.S. states stated in October, opposing efforts to halt lawsuits alleging the corporate and its owners helped fuel the epidemic.
The drugmaker had filed for bankruptcy safety in September to pause thousands of lawsuits, whereas it tries to build help for a proposed settlement it estimates is price $10 billion. The audit report was filed on Monday night in bankruptcy court in White Plains, New York.