Purdue will pay out millions in bonuses in bankruptcy case

Amy Baxter | | Health Exec | Policy & Regulations
Researchers found millions of heart failure patients who qualify for standard, guideline directed medical therapies, but did not receive it due to poor health literacy, limited access to care and medication costs.

Purdue Pharma, maker of the popular opioid OxyContin, will be allowed to dole out millions of dollars in bonuses to executives as the company declares bankruptcy as part of a $10 billion settlement to resolve thousands of lawsuits against the company for its role in the national opioid abuse and overdose epidemic.

Specifically, the company will pay about $26 million in wages, benefits and bonuses, according to CNN.

Bankruptcy proceedings for Purdue began on Tuesday, Sept. 17, with a final hearing held on Oct. 10. Once the filings are complete, Purdue will provide more than $10 billion in funding to address the opioid crisis and the Sackler family, which owns the company, will cough up about $3 billion of their own fortune, CNN reported.

See the full story below:

Opioid-maker Purdue Pharma is allowed bonus payout in bankruptcy case

Amy Baxter
Amy Baxter

Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."

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