‘Dopesick’: Is Purdue Pharma Still in Business in 2022? The Answer May Shock You
Hulu’s Dopesick, starring Michael Keaton, tells the true story of Purdue Pharma and the marketing of OxyContin. However, the truth is disturbing. The eight-episode miniseries depicts the lengths Richard Sackler (portrayed by Michael Stuhlbarg) went to market the highly addictive opioid. In the series, Rick Mountcastle (Peter Sarsgaard), Randy Ramseyer (John Hoogenakker) find proof that Sackler and other executives knew about the drug’s addictiveness but did nothing. After watching the dramatization of real-life events, many viewers want to know if Purdue Pharma is still in business today.
‘Dopesick’ Episode 8 gave a Purdue Pharma update
The final episode of Dopesick on Hulu updates events since the 2007 settlement case that Mountcastle, Ramseyer, and John Brownlee (Jake McDorman) settled against Purdue Pharma. Brownlee accepted a $600 million settlement in 2006, misdemeanors against the executives, and felony charges against the company. However, Purdue Pharma remained in business after the 2006 settlement.
The ending to Dopesick gave a brief overview of what had happened since 2006. By 2019, significant institutions began rejecting future donations from Purdue, including the Louvre in Paris, France. The Sackler family left New York after public shaming for their role in the opioid crisis in America.
David Sackler and Kathe Sackler publicly defended the company’s actions in a 2020 congressional hearing. According to Dopesick Episode 8, in 2021, the Sackler family signed a bankruptcy restructuring plan that would turn over $4.5 billion of their fortune. The family would also turn over ownership of Purdue Pharma; however, the agreement included terms that the Sackler family could not be sued.
However, after Dopesick aired on Dec. 16, 2021, a New York federal court judge overturned the settlement mentioned in that final episode (Forbes). Judge Colleen McMahon threw out the case stating that the New York Bankruptcy court did not have the authority to grant legal immunity to members of the Sackler family.
Is Purdue Pharma still in business in 2022 after the events of ‘Dopesick’ on Hulu?
Yes, Purdue Pharma is still in business as of the writing of this article in 2022. The Purdue Pharma FAQ about the bankruptcy filing explains that they filed a Chapter 11 bankruptcy, which does not put them out of business. They plan to come out of bankruptcy as a stronger organization.
“Chapter 11 is very different from chapter 7 and other types of reorganization, where the focus is on liquidating a company and going out of business,” the FAQ read. “During a chapter 11 filing—unlike a chapter 7 filing—management remains in control of the business, and the business operates as normal.”
The bankruptcy gives Purdue Pharma a way to finalize all of their settlements from litigation in one place.
What is Richard Sackler’s net worth?
According to Celebrity Net Worth, the former president of Purdue Pharma, Richard Sackler, is worth an estimated $1 billion in 2022. The entire Sackler family is estimated at around $14-15 billion. Even if the bankruptcy settlement mentioned in the last episode of Dopesick goes through, the Sacklers will continue to be very rich. However, they no longer will be a part of the company going forward.
The complete eight-part series created by Danny Strong, Dopesick, is currently available for streaming on Hulu.