The criminal violations included conspiring to defraud U.S. officials and pay illegal kickbacks to both doctors and an electronic health care records vendor
Purdue’s plea deal carries more than $6.5 billion in penalties, most of which will go unpaid. A $3.54 billion criminal fine is set to be considered alongside trillions of dollars in unsecured claims as part of Purdue’s bankruptcy proceedings.
Members of the billionaire Sackler family who own Purdue were not part of Tuesday’s court proceedings and have not been criminally charged. They agreed in October to pay a separate $225 million civil penalty
The company, which declared bankruptcy last year, will be dissolved as a part of the plea agreement, and its assets will be used to create a new "public benefit company" controlled by a trust or similar entity designed for the benefit of the American public.
The Justice Department has said Purdue Pharma will function entirely in the public interest rather than to maximize profits.