Purdue Pharma, the maker of OxyContin, will plead guilty to three federal criminal charges Wednesday as part of a more than $8 billion settlement with the Justice Department, AP reports.
Why it matters: "The settlement is the highest-profile display yet of the federal government seeking to hold a major drugmaker responsible for an opioid addiction and overdose crisis linked to more than 470,000 deaths in the country since 2000," AP notes.
Details: The company will plead guilty to charges including conspiracy to defraud the United States and violating federal anti-kickback laws, Justice Department officials told the AP.
- The deal doesn't shield any of the company's owners or executives — including members of the Sackler family — from criminal liability.
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