Sackler family

Purdue Pharma is a private pharmaceutical company primarily known for its role in the development and commercialization of OxyContin (oxycodone hydrochloride). Owned by the Sackler family, the company faced extensive litigation regarding its marketing practices and contribution to the opioid epidemic, leading to a Chapter 11 bankruptcy filing in 2019. As part of its restructuring, the company is transitioning into a public benefit corporation named Knoa Pharma, which will focus on developing overdose reversal medications and addiction treatments. The company's historical portfolio is centered on pain management through long-acting opioid formulations. The restructuring plan aims to provide billions of dollars in value to communities for opioid abatement. Despite its legal challenges, the company continues to maintain a commercial presence in the pain management sector during its transition.