PUBGY - Publicis To Pay $350M In First-Ever Opioid Marketing Settlement | Benzinga
In a historic move, Publicis Groupe SA (OTC:PUBGY), a French advertising company, has agreed to a $350 million settlement over its alleged role in the opioid crisis. This marks the first time an advertising firm has been held accountable for its part in the epidemic.
What Happened: Publicis, the marketing company behind Purdue Pharma‘s OxyContin campaign, has settled with the New York and Colorado Attorneys General, reported CNN. The company will pay the sum within two months and will no longer take on any opioid-related clients.
The settlement, led by New York Attorney General Letitia James and Colorado Attorney General Phil Weiser, involves eight other states. The agreement also prohibits Publicis from taking on any future opioid-related projects.
"For a decade, Publicis helped opioid manufacturers like Purdue Pharma convince doctors to overprescribe opioids, directly fueling the opioid crisis and causing the devastation of communities nationwide," said James in a statement. "No amount of money can compensate for lives lost and addiction suffered, but with this agreement, Publicis will cease their illegal behavior."
Publicis was accused of aiding Purdue Pharma in convincing doctors to overprescribe opioids, thus contributing to the opioid crisis. The company’s campaign, “Evolve to Excellence,” allegedly misled doctors about OxyContin’s addictive properties ...