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Purdue Pharma L.P., formerly the Purdue Frederick Company (1892–2019), was an American privately held pharmaceutical company founded by John Purdue Gray. It was sold to Arthur , Mortimer , and Raymond Sackler in 1952, and then owned principally by the Sackler family and their descendants.
The following table lists the largest biotechnology and pharmaceutical companies ranked by revenue in billion USD. The change column indicates the company's relative position in this list compared to its relative position in the preceding year; i.e., an increase would be moving closer to rank 1 and vice versa.
At the time of Arthur Sackler's death in 1987, Purdue Pharma was a small drug company. [4] In 1996, Purdue introduced its opioid drug, OxyContin. [12] By 2001, eighty percent of Purdue Pharma's revenue came from the sale of OxyContin worth $3 billion. [4]
By 2019, Purdue Pharma was facing more than 2,600 lawsuits from governments and other entities, and the company filed for bankruptcy in September of that year, according to NBC News.
Purdue Pharma has agreed to an updated settlement over its role in enabling the opioid crisis after members of the Sackler family up their contribution to $6 billion.
Purdue flourished under brothers Mortimer and Raymond Sackler, who died in 2010 and 2017, respectively. The family reaped billions and spent lavishly, including on splashy charitable projects .
Rank Brand Name(s) Generic Name Sales Q1 2014 Sales ($000) Change from Q4 2013 Company(ies) Disease/Medical Use First Approval Date Patent Expiration Date [6] [7]; 1: Abilify
NEW YORK, Sept 15 (Reuters) - OxyContin maker Purdue Pharma LP filed for bankruptcy protection Sunday night, succumbing to pressure from more than 2,600 lawsuits alleging the company helped fuel ...