Oxycontin & Purdue Pharma
Companies at the center of the opioid crisis include Purdue Pharma, which filed bankruptcy in September 2019.
Oxycontin is a modified-release formulation of oxycodone that was initially approved December 12, 1995 as 10 mg, 20 mg, and 40 mg tablets. An 80 mg tablet was approved January 6, 1997, followed by a 160 mg tablet on March 15, 2000, and 15 mg, 30 mg and 60 mg tablets on September 18, 2006. The Applicant (Purdue Pharma) ceased distribution of the 160 mg tablet in April of 2001.
Here is a history of FDA actions, from 1995 OxyContin approval. In 2001, OxyContin label was changed to add and strengthen warnings about the drug’s potential for misuse and abuse.
Abbott marketed OxyContin from 1996 through 2002 — a critical period directly following the approval of the drug by the US Food and Drug Administration.
With Abbott’s help, sales of OxyContin went from a mere $49 million in its first full year on the market to $1.6 billion in 2002. Over the life of the partnership, Purdue paid Abbott nearly a half-billion dollars, according to court records. From late 1996 through 2002, Abbott was paid about $374 million in commissions, according to those documents. Total sales of the drug during that time were nearly $5 billion. From 2003 through 2006, after Abbott had stopped selling OxyContin, it still received a residual payment of 6 percent of net sales, according to the West Virginia court records. It is unclear whether that pertained only to prescriptions written by the Abbott doctors. OxyContin sales during that time were nearly $6 billion.
In May 2007, the company and three of its current and former executives, pleaded guilty to charges of misleading the public about the drug’s risks; Purdue Pharma LP and the executives will pay a total of $634 million in fines. The company’s sales representatives misleading physicians about OxyContin, for instance, said that the drug produced no euphoric feelings for users and that users suffered no withdrawal symptoms when they stopped taking it.
In April 2010, FDA Approves New Formulation for OxyContin.
Between the reformulation in 2010 and 2015, there was a more than 40% drop in OxyContin misuse. During the same period, there were sharp jumps in both heroin-related mortality and hepatitis C infections, suggesting that that factors driving the rise in heroin deaths may also be driving the rise in hepatitis C infections, according to the researchers. Prior to the reformulation of OxyContin, hepatitis C infection rates were comparable between above- and below-median misuse states. However, following the reformulation in August 2010, the gap began to widen.
March 29, 2017 – Trump signs an executive order calling for the establishment of the President’s Commission on Combating Drug Addiction and the Opioid Crisis. New Jersey Governor Chris Christie is selected as the chairman of the group, with Trump’s son-in-law, Jared Kushner, as an adviser.
February 9, 2018 – A budget agreement signed by Trump authorizes $6 billion for opioid programs, with $3 billion allocated for 2018 and $3 billion allocated for 2019.
September 15, 2019 – Purdue files for bankruptcy as part of a $10 billion agreement to settle opioid lawsuits. According to a statement from the chair of Purdue’s board of directors, the money will be allocated to communities nationwide struggling to address the crisis.