Purdue admits lies over Oxycontin risks

Purdue has now acknowledged that it illegally promoted OxyContin by falsely claiming that it was "less addictive, less subject to abuse and diversion, and less likely to cause withdrawal symptoms than other pain medications - all in an effort to maximise its profits" .

Three current and former executives pleaded guilty Thursday in federal court to criminal charges that they misled regulators, doctors and patients about the drug's risk of addiction and its potential to be abused.

OxyContin is made of a chemical oxycodone. Initially, Purdue Pharma contended that OxyContin, because of its time-release formulation, posed a lower threat of abuse and addiction to patients than traditional, shorter-acting painkillers like Percocet or Vicodin.

Prosecutors said internal Purdue Pharma documents show that company officials recognized the problem even before the drug was marketed. Company officials developed a fraudulent marketing campaign designed to promote OxyContin as a time-released drug that was less prone to problems like to be abused by patients or cause addiction.

Between 1995 and 2001, OxyContin produced $2.8 billion in revenue for Purdue Pharma. At one point, it accounted for 90 percent of the company's sales.

Purdue will pay $470 million to government agencies and $130 million to resolve private civil liabilities related to painkiller.

Purdue settled recently OxyContin® Patent law suits with IMPAX Laboratories and Teva Pharmaceuticals .

For more information check theses resources

1. Company Statement

2. Terms of Agreement

3. Purdue Pharma Initiatives to Ensure Appropriate Product Promotion and Prescribing     of OxyContin® Tablets

4. Key Purdue Initiatives to Combat Prescription Medicine Diversion and Abuse

5. OxyContin Prescribing Information