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PURDUE CORPORATE INTEGRITY AGREEMENT

Background: Purdue launched OxyContin in 1995. OxyContin, valued at more than
$35 billion, has been sold by Purdue and since 2007, more than $4 billion has
been sold to its owners. More than 100,000 Americans died from opioid addiction
between 2006 and 2012. Purdue and three company executives had previously
pleaded guilty in 2007 to misleading the public about OxyContin`s addiction
between 1995 and 2001, according to the Wall Street Journal. Together, they paid
more than $630 million in penalties, and Purdue also signed a five-year business
integrity agreement with the federal government. According to government
officials, Purdue complied with the requirements of the agreement in 2013. A
decade later, communities affected by the opioid epidemic began filing
complaints against Purdue, which served as the basis for the reported
comparison. Bruce A. Markell, a former U.S.

bankruptcy judge in Nevada who is now a professor at the Northwestern Pritzker
School of Law, said the involvement in the case of almost all attorneys general
is unusual and introduces an element of policy. Attorneys general differ from
typical creditors in corporate bankruptcy, such as banks and sellers, because
they are elected police officers who consider the use of police powers to be
part of their job, he noted. After the sale of OxyContin for more than two
decades, the Sacklers would hand over 100% interest and control over Purdue to a
public trust with a corporate charter that would require it to “use its assets
to deal with the opioid crisis,” as indicated in the report card published last
month. It would make cash payments to that goal, and bring overdose lifesaving
drugs — injectable nalmenefen and over-the-counter narcan — and generic drug
recovery drugs. Surprise: even under this agreement, the Sacklers` fortune would
be worth more than a billion. Fighters on all sides of the case rely much more
on public mood than on a typical corporate bankruptcy. U.S. Bankruptcy Judge
Robert D. Drain emphasized in his courtroom the public nature of the
proceedings. An agreement announced last month between a creditors committee and
Purdue and the Sacklers will provide confidentiality coverage over the details
of the transfer of Purdue cash to the Sackler family. The details include 700
pages of investigative documents related to the transfers, according to court
documents.

The Sacklers also agreed to inform the creditors` committee of the location of
the family`s assets. Purdue Frederick and three of its executives, including no
member of the Sandler family, pleaded guilty in 2007 to mishandling OxyContin.
Purdue was the subject of a five-year Corporate Integrity Agreement, which
required accountability for his marketing practices to the government, which he
concluded after graduating in 2013. It led to the misuse of the OxyContin pill
in 2010. “The family has generally refused to react to the highly imprecise
portrait that has been painted in court proceedings and media reports,” the
family said in a court case. “The family was criticized for this election, and
perhaps they should have taken a more proactive stance.” More than 100,000
Americans died from opioid addiction between 2006 and 2012. Topline: OxyContin
manufacturer Purdue Pharma has reportedly filed a preliminary agreement with 22
attorneys general of more than 2,000 complaints against the company for its
alleged role in the emergence of the opioid crisis.

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