New Purdue bankruptcy plan roundly criticized as Sacklers offer $4B+; Sana seals pact with Fujifilm for iPSC-derived therapies
Members of the Sackler family caught up in thousands of lawsuits targeting them and Purdue Pharma for their involvement in the opioid epidemic have agreed to hand over $4.3 billion of their fortune in exchange for being left off the hook of litigation.
That figure marks a significant increase over the $3 billion that had been on offer, and it was immediately attacked by a host of critics who believe they should be required to give up much, much more after profiting from the reckless distribution of OxyContin. The opioid epidemic is responsible for the deaths of hundreds of thousands of people.
The bankruptcy plan filed late Monday includes an offer of $500 million from Purdue, with more money to follow as the biopharma company is remade into a new company with a new mission: to fight opioid addiction as it continued to sell OxyContin.
The money the company generates going forward would go to groups and individuals harmed by the epidemic.
Sana seals pact with Fujifilm for iPSC-derived cell therapies
Next-gen cell therapy developer Sana has inked a deal for non-exclusive rights to Fujifilm Cellular Dynamics’ iPSC platform for the development of new therapeutics. In the pact Fujifilm agreed to provide research-grade and Good Manufacturing Practices-grade iPSC lines for use.
“Our history in manufacturing iPSCs for research-purposes has provided us with the foundational expertise to manufacture quality GMP-grade iPSC lines,” said Fujifilm Cellular Dynamics CEO Takeshi Yamamoto said.
No terms were disclosed.