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OxyContin maker Purdue Pharma to plead guilty to 3 criminal charges

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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Putin says Russia will begin large-scale COVID-19 vaccination next week

Russian President Vladimir Putin said Wednesday that he has directed officials to begin large-scale vaccination against COVID-19 as early as next week, according to state media.

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Data: AHCA/NCAL, The COVID Tracking Project; Chart: Naema Ahmed/Axios

The U.S. has gotten no better at keeping the coronavirus out of nursing homes.

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Why it matters: Most of President-elect Biden's economic nominees served in the Obama Administration, and wish that they could have gone biggerto help America recover from the 2008 financial crisis. But it's not going to be easy for them to push through massive fiscal spending in 2021.

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