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Judge Approves $35M In Bonuses At Purdue Pharma

Douglas Healey

The judge overseeing Oxycontin maker Purdue Pharma’s bankruptcy case on Wednesday approved the payment of about $35 million in bonuses to over 600 employees.

The judge did hold back approval of a $1.3 million bonus for the company’s CEO, Craig Landau for “further consideration.”

Purdue filed for bankruptcy in September as part of an effort to settle nearly 2,700 lawsuits over the company's role in the opioid epidemic. 

The Stamford-based drugmaker says employee bonuses were necessary to maintain operations and prevent mass departures at the company. 

Attorneys general from 24 states want the court to block the CEO’s bonus given a possibility that he could be held liable in the future.

Purdue and Landau deny they acted illegally.

Bill began his radio journey on Long Island, followed by stops in Schenectady, Bridgeport, Boston and New York City. He’s glad to be back on the air in Fairfield County, where he has lived with his wife and two sons for more than 20 years.