Purdue Pharma
Stamford, Connecticut-based maker of the painkiller OxyContin
- Entries
- 18
- On the record
- 10
- Stories
- 1
- Latest entry
- May 1, 2026
The record
Purdue Pharma, based in Stamford, Connecticut, and owned by members of the Sackler family, made OxyContin, the controlled-release oxycodone the FDA approved in December 1995. Its regulatory record starts well before the bankruptcy covered on this file: the FDA strengthened the drug's label and added a boxed warning in 2001, when Purdue agreed to run a risk management program, and in 2003 sent the company a warning letter over advertisements that left out or minimized OxyContin's safety risks.
In 2007 Purdue pleaded guilty to a felony and agreed to stop misrepresenting the drug's addictive potential. State suits followed a decade later. Massachusetts alleged the company and the Sacklers kept pushing OxyContin after that plea, which Purdue called a complaint riddled with demonstrably inaccurate allegations. In March 2019 Purdue settled Oklahoma's suit for $270 million, with $75 million of a new treatment center's funding coming from the Sackler family.
In November 2020 a bankruptcy judge approved an $8.3 billion federal settlement under which the company would plead guilty to three felony counts, while the Sacklers admitted no wrongdoing. The reorganization plan Purdue filed in March 2021 was later put on hold by the U.S. Supreme Court in August 2023. The Chapter 11 case concluded on May 1, 2026, when Purdue permanently ceased operations and its successor, Knoa Pharma, began work.
Roles and honours on the record
- 1995 Manufacturer of OxyContin (oxycodone controlled-release), approved by the FDA in December 1995 source
- 2019-2026 Debtor in Chapter 11 bankruptcy before the federal bankruptcy court in White Plains, N.Y. source
- 2026 Ceased operations on May 1, 2026; succeeded by Knoa Pharma, governed through the Knoa Foundation source
Every entry, newest first
- Reported
New York Attorney General Letitia James announced Purdue had shut down under a $7.4 billion Sackler settlement. Sackler family agrees to $7.4B Purdue Pharma opioid settlement
- Ruled
Sentenced in Newark to a $3.544 billion criminal fine and $2 billion in forfeiture, the Justice Department said. Sackler family agrees to $7.4B Purdue Pharma opioid settlement
- Ruled
The Supreme Court ruled 5-4 against the plan's immunity for the Sacklers, Ars Technica reported. Sackler family agrees to $7.4B Purdue Pharma opioid settlement
- Ruled
Judge Colleen McMahon overturned the plan over its release of the Sacklers, the New York Times reported. Sackler family agrees to $7.4B Purdue Pharma opioid settlement
- Ruled
Bankruptcy Judge Robert Drain approved a plan with $4.5 billion from the Sacklers, the New York Times reported. Sackler family agrees to $7.4B Purdue Pharma opioid settlement
- Admitted
Purdue pleaded guilty to a three-count felony information, the Justice Department said. Sackler family agrees to $7.4B Purdue Pharma opioid settlement
- Filed
Purdue filed for Chapter 11 bankruptcy protection in White Plains, N.Y., the New York Times reported. Sackler family agrees to $7.4B Purdue Pharma opioid settlement
Stories in this file
The record, entry by entry
- 1995-12 Official The FDA approved OxyContin, the first formulation of oxycodone allowing dosing every 12 hours. Its label at approval warned of the danger of abuse and that crushing and injecting a tablet could cause a lethal overdose. U.S. Food and Drug Administration, timeline of opioid actions
- 2001-07 Official The FDA added stronger misuse and abuse warnings and a boxed warning to the OxyContin label and changed its indication. Purdue agreed to implement a risk management program and sent a letter to prescribers about the changes. U.S. Food and Drug Administration, timeline of opioid actions
- 2003-01 Official The FDA issued Purdue a warning letter over misleading OxyContin advertisements that, it said, left out and minimized serious safety risks and promoted the drug for uses not proven safe and effective. U.S. Food and Drug Administration, timeline of opioid actions
- 2007 Admitted Purdue pleaded guilty to a felony and agreed to stop misrepresenting the addictive potential of OxyContin. NPR report
- 2010-04 Official The FDA approved a new formulation of OxyContin. U.S. Food and Drug Administration, timeline of opioid actions
- 2019-02-01 Reported NPR reported on the unredacted Massachusetts attorney general's complaint, which alleges the Sacklers voted to pay themselves $250 million in June 2008 while complaints like those behind the 2007 plea continued. Purdue called the complaint riddled with demonstrably inaccurate allegations. NPR report
- 2019-03-26 Reported Purdue agreed to pay $270 million to settle the Oklahoma attorney general's opioid suit, the first of more than 1,600 pending against it. A new addiction center at Oklahoma State University was to be funded by $102.5 million from Purdue and $75 million from the Sackler family. NPR report
- 2020-11-17 Ruled Bankruptcy Judge Robert Drain approved Purdue's $8.3 billion settlement with the Justice Department, under which the company would plead guilty to three felony counts. Sackler family members agreed to forfeit $225 million while admitting no wrongdoing and facing no criminal charges. NPR report
- 2021-03-15 Filed Purdue filed a reorganization plan offering about $500 million in cash up front, with later payments including roughly $4.2 billion promised by the Sacklers, who would give up ownership. Two dozen state attorneys general rejected it. NPR report
- 2023-08-10 Ruled The U.S. Supreme Court agreed to review Purdue's bankruptcy deal and temporarily blocked the $6 billion settlement, asking whether bankruptcy courts can extinguish claims against third parties that are not themselves bankrupt. NPR report
- 2026-05-01 Official Purdue's Chapter 11 proceedings concluded and the company permanently ceased operations. Knoa Pharma, set up with the Justice Department, states and other creditors, began operations as its successor under two boards with no prior association with Purdue. Knoa Pharma release