since june of 2017 i have been president and ceo of purdue pharma. would to start by recognizing and thanking the individuals who share their stories. it is heartbreaking and i can't imagine the pain. dominance dc any allergist one - - i'm an anesthesiologist and a practice medicine and a treated patients in the private practice and also served as a physician in the united states army reserve medical core for more than 14 years. with that deployment in 2004 was part of enduring freedom both iraq and afghanistan. treating patients including wounded servicemembers have seen with my own eyes the positive impact we can have from pain and suffering and when they are eased including opioids that are often affected that can involve treatments as well as other interventions. proper training and experience and those that associate dean and then with the use of opioids was addiction. and with those heartbreaking stories from grieving parents whose children died from the opioid overdose. i cannot imagine the despair and emptiness and that anger they must feel e

opioid crisis in the us of being questioned by congressional committee the 2nd family owns poder pharma maker of the addictive prescription painkiller oxycontin last month or to admit its responsibility for the opioid epidemic raging across the u.s. let's take a closer look at the cyclists probus magazine estimates the family fortune to be worth more than $10000000000.00 dates back to $952.00 when 3 brothers bought the company that would become potent pharma it went on to produce the prescription painkiller oxycontin in the $990.00 s. and he was that was billions of dollars over the years the family became known as for that purpose giving millions of dollars to the arts many of those cultural institutions have since distance themselves from the family the family have continued to argue that they service only passive board members is john hendren report now on how drugs like oxycontin have ravaged communities across the u.s. . tim ryan was the recruiting director for a chicago consulting company and he founded a multi-million dollar executive search firm he was also a drug addict people

so pharma say that they are not going to settle for anything less than a complete repeal of the 3 laws which were passed by the government in september like i said they've had a number of talks with government leaders and they've even had the government proposed 7 amendments to these laws but pharma say that the amendments don't address the main concerns of the laws and one of the biggest one is that farmers have had a minimum price for they produce for decades now and they fear that these laws will see the end of those minimum prices india's agriculture sector has been and crisis for decades for a number of reasons including the debt that many indian farmers and they fear that these laws will drive them further into debt and so that is why they want assurances of a minimum prize assurances that they're saying the government isn't giving them and that's why they're saying they're not going to stop protesting until they hear the prime minister and the government saying that these laws are going to be repealed and another bit of good news for indian farmers from the supreme court this we

there were over 8,300 orders placed on pharma master. able to look at those customers on the list and figure out where all the drugs were going to. >> these orders touched every part of the united states. every major metro area. every small city. >> we received a call from the dea office. and the office said we understand your son passed away. we'd like to see if we can get his computer. because when we got aaron's, and his computer. your son's name came up on the list of people who purchased from him. sure enough there was the order that he had made i think it was for two pills. if i remember right. they were supposed to be two oxycontin pills. what they were is fentanyl laced. pills. >> the trial of the former eagle scout. >> he went on trial in salt lake. for 13 counts including criminal conspiracy and murder. >> there were card board boxes and plastic bins full of evidence in the courtroom. prosecutors lay out the case against 29 year-old aaron. >> the trial lasted 18 days. among the witnesses to take the stand for the prosecution, w

once so big pharma his coat back massively on on research and spends far more on average tyson and it just doesn't take any leadership in developing. jugs and bank c.d.'s that are not highly profitable but absolutely necessary for societies or home as you know they do deny that they say they're doing their best they're involved in a new super national initiative against coronavirus just very briefly i did mention private health insurance you see that a symbiotic with us in october of last year. the council of economic advisers issued a report on possible demick. it is already seen as is imminent in it they point out and advise the president that big pharma will be incapable of meeting. the challenge of a pandemic prove precisely the absence of a strong profit motive in developing a nano by rules and in back scenes this is would every big pharma says especially big knowledge by by the government or new cures might in egypt. critics of big pharma private health care a court is it's lead to new reasons of americans tens of millions of americans without health care and that number is dram

pay $225000000.00 in civil penalties that's only 2 percent of the sackler is net worth meanwhile pharma is now pursuing bankruptcy protections that could shield it from paying out billions to victims. to say well it appears to me as family i mean it's going to use the bankruptcy process to get out of the u.s. and dick cheney to be one of the wealthiest families while the federal case against the sackler family and purdue pharma is settled nearly every us state has filed its own lawsuit and the house oversight committee continues its investigation with bipartisan support families of young people who died of overdoses shared their stories the damage and the pain in the grief in life long and purdue pharma and the seculars need to be held accountable for what they've done to our family and countless other families company documents show the sackless push to drive up oxycontin sales while knowing of the drugs potential for abuse that in the eyes of the victims' families make the sackless drug dealers they say who got away with murder. castro al-jazeera washington. latin american economies h

that's right $8000000000.00 in fact is the settlement that purdue pharma signed just a month ago with the department of justice in which have pled guilty to 3 criminal felony charges relating to the way that it pushed oxycontin while knowing of its highly addictive nature but the big question is whether that money will ever reach the victims or their families because part of the 7 settlement also allowed for purdue pharma to seek bankruptcy protections which may shield it from creditors including those victims so there are actually more than 20 states that are suing purdue pharma as well and their state attorneys general have all said they are against this bankruptcy settlement peter heidi many thanks for the reporting on the developing story from washington. stay in the states u.s. government agencies are rushing to tighten their computer security after confirming they've been hit in a long running and sophisticated hacking operation the attackers are suspected to have been russian they pierced cyber defenses and accessed e-mail and internal files at the treasury and commerce departm

nowadays 30 pharma is the 1st company standing it is used in the lawsuit filed by the state of oklahoma in order to prove its responsibility the team relies on doc to kalani. in the 1st 6 years of the release of oxycontin produce sponsored 20000 educational programs across the united states they gave money to the professional societies to advocate for more opioids the organization that regulates hospitals took money from them the organization that regulates doctors in different states took money from them from all of these different directions we were told to prescribe much more the opioid lobby the manufacturers and distributors of opioids spent 880000000 dollars over a 10 year period the walking efforts for more cautious prescribing that they spent 8 times more than the gun lobby in the united states in has spent in trying to block gun regulations. the manufacturers of opiates are spending more money trying to block regulations on opioids. and is disseminated year after year during that time the epidemic takes root hidden in the shadows for so long the addiction of a 1000000 american

are bound to be questioned by a congressional committee the sec the family owns per do pharma maker of the highly addictive painkiller oxycontin last month per 2 admission some responsibility for the opioid epidemic raging across the us is john hendrick reports from chicago. 3 years tim ryan was the recruiting director for a chicago consulting company and he founded a multi-million dollar executive search firm and he was also a drug addict people of this misconception that an opiate addict is the homeless person on the corner with the brown paper back that's 5 per cent you know the average opiate addict 22 year old white middle class male a 23 year old white middle class female the disease of addiction does not discriminate after using for years he caught his son using heroin and opiates enjoying him my son and i that's how we get my on did i doing drugs every day then for tim came addiction prison and soup rioting for his son nick a cycle of addiction jail rehab and relapse on the day tim recorded his 21st month of sobriety nick suffered a fatal overdose dr took me to the room right n

large pharma companies have been leaving in droves. on when in the development happened in pharma companies. on the other hand, they are not there and one wonders where the drug will come from. >> and they need, there like an endangered species. people are leaving and going into cancer drugs. i talked to cash tasha what's e guys name? came up with alternative model and he said what worries and is the people who spent the last one had to do this work are going into the work there like an endangered species. >> i think on the development of science, we have 15050 vaccines, something like that in various stages. many of them different. i've been very impressed by the model that moderna and pfizer are using, the vaccine they are using is really interesting. i speak as one who had a a terrible reaction to a vaccine when i was a child, and i was, i think it was a tetanus shot. i woke up one morning and i was paralyzed. it might've been guillain-barrÉ syndrome. at might've been a reaction to the horse serum that the vaccine was created in, bu

whoa pharma say that they're even worse than they think and that they what they're going to lead to isleaving farmers at the completed mercy of large corporations now i've read through these laws and what they do is completely deregulate the farming sector at a time when the indian pharma say they actually need more support they need better prices for their produce they need assurances of minimum prices for their projects they point to what happens in the u.s. and europe where the government spends tens of billions of dollars each year subsidizing the agriculture sector and they say that that's what's needed not less regulation and allowing some of the world's largest corporations to come into the indian market and also you know when heart of india's 1300000000 people work in the agriculture sector pharma say it cannot be up to large corporations to the free market to decide what's in the interest i mean it's not going to be small farmers are not going to be in the interest of large corporations. let me bring one more voice the entire conversation is and this is a problem shank a shot

he is favoring tech and pharma. these two sectors are the best performers on the sensex this year.ou guys. sophie kamaruddin in there. let's look at chinese tech stocks in hong kong. let's quickly check in, alibaba down 8.7%. investors looking at this very closely. the state administration for market regulation investigated companies arether looking at that. over everyluence aspect of daily life in china. this is what the markets are doing, it's a mixed bag. the china composite down .75%. ♪ >> 9:00 a.m. on a hazy start in mumbai. we are looking at the nifty futures contract up by one quarter of 1%. india.ith equities in looking closely at what's going on with the bond market currently there in the indian financial capital. let's get over to new york where there are the first word headlines. of china's most prominent e-commerce companies face questioning. the alibaba group faced accusations of running a monopoly over the aunt group -- ant group. they have already offered to give up some control in an attempt to get the ipo that contract. the u.k. has delivered an unwelcome's christm

and it directs billions of dollars worth of funds to buy medical research at the world's biggest pharmacompanies what the investigation uncovered was that not only did firms in 2017 turn down an e.u. proposal to work on vaccines for pathogens like coronavirus but 2600000000 euro of i am eyes funds were transferred into projects that represented much more commercially profitable avenues for the pharmaceutical industry this investigation reinforced a point that big pharma insiders and whistleblowers have been making for a while that serious matters like pandemic preparedness being held hostage by commercial considerations on march 5th as coronavirus cases spread across the u.s. a congressional hearing is taking place we also took on a decade ago the interesting problem of making coronavirus vaccines because we recognize these as enormous public health threats and yet we have not seen the big pharma guys and the biotechs rushing in into the space of dr peter hotez one of america's leading vaccine scientists said that a vaccine his team and created 4 years ago in response to the sars outbre

and yet we have not seen the big pharma guys and the biotechs rushing in into the space of dr.peter hotez, one of america's leading vaccine scientists said that a vaccine his team and created 4 years ago in response to the sars outbreak may have been able to provide patients with a cross protection from the virus at the heart of this pain dimmick. but it simply hadn't been commissioned, entice enough for drug companies to invest in. the bottom line is, had we had those investments early on to carry this all the way through clinical trials. years ago, we could have had a vaccine ready to go, you know, one of the big problems of capitalism, the capitalist drug investment. so capitalists say, you know, it's really important by agra because that's a huge market. even though the coronavirus exists once, not invest in a back scene, because that market doesn't really exist, then i also didn't really want to vaccinate the whole world in this preemptive measure. no, let's create something that we can sell now. so you know, we like capitalism. direct investment at our clock the peril whe

your family and purdue pharma, you are the criminals. are the ones who disregard your duties to society. and you should be ashamed of yourselves. >> congresswoman ayanna pressley of massachusetts. the sacklers are in court right now, as purdue pharma goes through bankruptcy proceedings. the reason that's important right now is that we may learn as early as tomorrow a lot more about all of the money that the sackler family socked away out of purdue, specifically, where they've moved the money and when and how. we are expecting a trove of documents in that court case to get unsealed tomorrow. so, after this groundbreaking testimony today, things could get very interesting in terms of what we learn they did with the money tomorrow. watch this space. watch this space [♪] do you struggle with dull, dry skin, and find yourself reapplying moisturizer throughout the day? try olay ultra rich. olay's luxurious moisturizer melts into the skin. it's formulated with vitamin b3 plus peptides and shea butter, providing lasting hydration, for up to 24 h

he wrote the book pharma covered the longer than anyone else. joe, thanks so much for coming on. really stunning story. what have we learned? >> yeah, you know, there are very few things after spending five years into looking at the american drug industry. very few things that shock me anymore. it was a shocking development. i had to read that document twice to make sure that i really understood it. and what it really is that in 2017 mckinsey had been advising purdue 8 years different aspects of their business it was tough to sell oxycontin because the of the fact it had become america's biggest drug abuse crisis and lethal crisis ever. they had to come up with something different than before. what they come up with was an idea why dough don't we encourage zhoozh companies, an them, cvs, who are paying for oxycontin under insurance plans, give them some incentive to make sure they don't knock oxy off the insurance plans give them bonuses based on the number of people who either get addicted to oxy or die of oxycontin overdoses between $6,000 and $14,000 a person so they came up w

guy: what about big pharma, kim? kim: big pharma is kinda scary to me for a lot of reasons. as've been using biotech their farm team, to use a sports analogy, where they feed a lot of money, see what their science is doing out in biotech land, and then reap the rewards. here's the problem with pharma in general. gets isthe money it from medicare, and medicare reimburses at certain rates. with this big slug of baby boomers moving through our health care system, and most of that paid for by the government, i would say that probably reimbursement rates aren't going to be going up. i would say they are flat to down. that is my cautionary tale for going looking at pharma, look at that big slush of people who are going to use these products. that is great, but it is the reimbursement rate that affects profitability, and profitability is what wall street wants. even some of them aren't going to make a profit. let's take that lens and look at large-cap technology stocks in this fund manager survey. huge long term into long tech. what do you do? kim: i am all in on tech. it is some t

if you were a pharma company and said some people can use this but if it's a ncer drug somebody has to use it for the rest of their life it doesn't work out for the antibiotic at l then you have the sense and the biggestood killer is to say you did a fantastic job coming up with the antibiotic so what is the incentive for the company to develop? and the existing model will not work one year ago if i said i have a vaccinfor a novel coronavirus so that existing model just isn't working and when you look at the economics of the issue with the antibiotic it is clear the pharma companies on one and the development happens on thether hand they are not there and one wonders where the drug willome from. >> they need to know how to develop antimicrobials there is an organization, an alternative model, what worries him those who explained their lives are going into other work li the endangered species. they are on the development of science. we have 150 vaccines in various stages. many of them are different i have been very impressed by the model of pfizersing the vaccine is interesting and i sp

the black market 3 brothers from their sackler family bought the company that would become purdue pharma in $152.00 since then they've amassed a fortune estimated to be worth $10000000000.00 how do you pharma went on to produce oxycontin in the 1990 s. sparking the crisis over the years the family became known as for anthropos hts giving millions of dollars to the arts many of those cultural institutions have since distance themselves despite the family claiming they were only passive board members. on to your question has more from capitol hill. critics of the south their families say they have a skate accountability for years and so expectations were high when 2 family members david and kathy sackler agreed to appear under threat of subpoena before the house oversight committee this is a panel that has been investigating this family and the role of their company purdue pharma in jumpstarting the opioid crisis that has killed more than 450000 americans and in recently published documents from the company it's shown that the sabc lawrence aggressively pushed for the marketing and sales o

it concerns big pharma and all that.over drug pricing rules. the lawsuits claim the rule would tie government drug payments to lower prices abroad. the lower prices abroad, you have to sell them the same prices here. the drug company are saying that goes beyond his authority and they're suing. more after this. really? i didn't-- aah! ok. i'm on vibrate. aaah! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ if ththen i'm not a real potato reciidaho potato farmer.shes, genuine idaho potatoes not just a side dish anymore. always look for the grown in idaho seal. and sweetie can coloryou just be... gentle with the pens. okey. okey. i know. gentle..gentle new projects means new project managers. you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a short list of quality candidates from our resume database so you can start hiring right away. claim your seventy five dollar credit, when you post your first job at indeed.com/home. - [anthat can leave cleaning gaps and

and taking higher paying jobs for purdue pharma and other drug companies we call that the revolving door i think they should have figured out earlier than what was going on in to this day some of these same f.d.a. officials are still at the f.d.a. and rather than saying we made a horrible mistake we have to change our policies they haven't changed their policies they keep approving more opioids. it's a big day for oklahoma the attorney general's teams are facing the lawyers of the 4 companies being seated a judge has to rule whether there's enough evidence to go to trial. approved pharmaceutical active johnson and johnson we sued the ones that we. did business and falsely marketed in oklahoma my goal was to let the truth come out i really hope this case goes to trial it's an enormous amount of money and they're going to fight for the death is what they've indicated. to to try to show that they didn't cause us they're probably going to blame this on doctors and they're probably going to blame it on people like myself who got sick. we've probably got at least $20.00 for you know they have

perdue pharma, the maker of the drug has already pled guilty in bankruptcy court proceeding. a giant settlement going on. the family is still in mediation talks in that bankruptcy court settleme settlement. they're still deciding how much money they will be giving. they are not accepting personal responsibility, hallie. they said again and again they feel very sorry. they apologize to those whose lives have been disrupted by the opioid crisis. here is one moment where kathy sackler was asked don't you take any personal responsibility, what was your role, and here is what she said. >> i have tried to figure out is there anything that i could have done differently knowing what i knew then, not what i know now, and i have to say i can't -- there's nothing i can find that i would have done differently based on what i believed and understood then. >> david sackler said the family did make $10 billion over ten years, hallie, off of -- from purdue pharma, 90% of which was from oxycontin. about half of that they paid in taxes. he said they land to spend more in this settlement. they

in my office while the lawsuit against purdue pharma. so long and janssen pharmaceuticals. in putting this lawsuit together. we believe these companies are culpable for the tragic heartbreaking number of oklahomans who have become addicted or who have died as a result of the opioid epidemic in our state. he's the oklahoma attorney general and the 1st one in this country to go to battle. my counter is likely accusing pharmaceutical companies as having caused this epidemic . he wanted to prove that he and his team have been investigating for more than a year. on the turn here in oklahoma city. in my mind is model murray i am my lawyer in oklahoma. carol hunter hired my law firm whitman verged to represent the state of oklahoma and try to recoup all of the costs that the state has incurred because of the opioid epidemic we need this person is a. case. and. i think we're going to be able to prove that 80 percent of all the crime in the state of oklahoma is directly caused by this opioid epidemic and our prisons are overfilled because of that loss of productivity of taxpaying ci

the family owns purdue pharma, the maker of the addictive painkiller oxycontin.h, the company pleaded guilty to criminal charges, it admitted to providing misleading information about the drug and doing little to preventing it from entering the black market. >> oxycontin has been on the market to reduce the risk of addiction and abuse in a number of ways. in the past 20 years, perdue spent more than $1 billion on anti-abuse initiatives. perdue instituted what i understand was the first voluntary abuse and risk detection program. this was endorsed by various state governments and later required perdue to keep the program in place and i understand it was used as a model for at least one other pharmaceutical company to follow. >> the opioid crisis has devastated the lives of hundreds of thousands. almost half a million deaths have been linked to abuse of the painkillers. >> tim ryan was dumb according to rector for a chicago consulting company and founded a multimillion executive search firm. he was also a drug addict. >> people have this misconception that it opio

from pharma bro to playboy?rtin shkreli's jailhouse romance revealed but could the love connection already have fizzled out? you've got to hear this story. much more coming up on "the claman countdown." >>> and the co-founder and ceo of orca securities joins my everyone talks to liz podcast this week to talk about the recent solarwinds hack and his time training in the exclusive elite israeli unit 8200 of the idf where he learned via the military a very unique way to problem-solve without the presence of technology or google at all. if you listen to this, you may glean some ideas on how to problem-solve in your world. listen on spotify, google and wherever you get your podcasts. closing bell ringing in 19 minutes. the dow briefly turned negative. back now positive by 17 points. we'll be right back. don't go away. got to hear the shkreli story. a. and now with q4 wrapping up, the north pole has to be feeling the heat. it's okay santa, let's workflow it. workflow it...? -uh-huh. just picture it... with the now pla

your family and purdue pharma, you are the criminals.ones who disregard your duties to society, and you should be ashamed of yourselves. >> congresswoman ayanna pressley of massachusetts. the sacklers are in court right now as purdue goes through bankruptcy proceedings. the reason that's important right now is we may learn as early as tomorrow a lot more about all the money the sackler family socked away out of purdue. specifically where they've moved the money and when and how. we're expecting a trove of documents in that court case to get unsealed tomorrow. so after this groundbreaking testimony today things could get very interesting in terms of what we learn they did with the money tomorrow. watch this space. ney tomorrow watch this space students of color typically do not have access to high quality computer science and stem education. ♪ i joined amazon because i wanted to change education and i am impatient. amazon gives me the resources to change the world at a pace that i want to change it. ♪ we provide students stem scholarships

former board of directors for purdue pharma.she would not take any responsibility for the role she and her family played in the opioid crisis that has now killed even more americans than we lost to covid. they haven't testified, in public, in decades. over their role in aggressively and falsely marketing oxycontin, in a way that led to all of those deaths. but, after being threatened with subpoenas to compel their testimony, congresswoman maloney and the oversight committee. today, they did get two members who served on purdue's board. members of the sackler family, of course, have not been held personally or criminally accountable for what purdue did. it was just a little less than two weeks ago before the election -- excuse me, less than two weeks before the election, when the justice department announced an historic settlement with purdue pharma. settlement was historic but it was not that big a deal, for purdue. for example, it did not require the sacklers to admit to any wrongdoing, at all. the civil fine they were forced t

. >> reporter: the current ceo and members of the wealthy family that founded purdue pharma, david and kathe sackler, all offering apologies. >> i am profoundly sorry. >> i am deeply and profoundly sorry that oxycontin has played a role in any addiction and death. >> reporter: but the sacklers who both spent time on purdue's board argued they didn't know what the company was doing to push sales of oxycontin. >> will you apologiz for the role you played in the opioid crisis? >> i have struggled with that question there is nothing that i can find that i would have done differently. >> reporter: the family hammered over $10 billion in profit they withdrew over ten years, even as states were beginning to investigate democrats and republicans joining forces. >> i'm not sure that i'm aware of any family in america that's more evil than yours. >> our opinion of purdue pharma and the actions of your family i think we all agree are sickening. >> the family and the board acted legally and ethically. >> reporter: david sackler argued there's systems to stop doctors from writing illegitimate presc