This interview took place on 11/18/17
Perdue Pharma is the manufacturer of Oxycontin and is owned by only one family the Sackler family. Most big pharma are part of a corporation with many investers but Perdue is a corporation owned 100% by one family. It has reportedly earned 35 billion for the company and 13 billion for the Sackler family. With the successful branding other big pharmas made their own brand of opioid and followed the marketing plan of Perdue.
Arthur Sackler began the business model in the '60"s and 70's with promoting Valium to Drs. The medication in the '60's was purported to help with stress, headaches, and even sexual issues. It was the most perscribed medication of the time. By the 80's we all understood how addictive Valium was. The same business model was followed to promote Oxycontin. Since the opioid epidemic became front and center there have been fines leveled at Perdue Pharma. Many top execs have resigned or have been fired, but it is worth noting that a member of the Sackler family was at the head of the corporation until the investigations started. The company has had fines levied in the neighborhood of $630 million for miss branding of addictive properties.
With the public outcry and demand for something to be done, most pharmacuticals are pulling back in this country. But big business will not be thwarted, now Perdue Pharma is now targeting other countries. Believe it or not, they are using the exact same business model they used in this country in the '90's and early 2000 and promoting Oxy as being less addictive than it is.
If I hear more I will update this piece.
Have a great day!
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Katie
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