OxyContin maker to plead guilty to criminal charges, pay $8 billion, and close the company

(CNN) — Purdue Pharma, the maker of OxyContin, has agreed to plead guilty to three federal criminal charges for its role in creating the nation’s opioid crisis and will pay more than $8 billion and close down the company.

The money will go to opioid treatment and abatement programs. The privately held company has agreed to pay a $3.5 billion fine as well as forfeit an additional $2 billion in past profits, in addition to the $2.8 billion it agreed to pay in civil liability.

The company will be dissolved as part of the criminal charges, and its assets will be used to create a new government-controlled company.

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