The Pak Banker

US sues Publicis subsidiary over role in opioid crisis

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The state of Massachuse­tts sued a subsidiary of the French public relations firm Publicis on Thursday for its role promoting opioids in what became a major US health crisis. That subsidiary, Publicis Health, is accused of helping Purdue Pharma urge doctors to prescribe its highly addictive painkiller OxyContin.

The lawsuit alleges that Publicis "engaged in myriad unfair and deceptive strategies that influenced OxyContin prescribin­g across the nation," a statement by Massachuse­tts Attorney General Maura Healey's office said.

Those strategies were carried out through dozens of contracts between 2010 and 2019, worth more than $50 million, it stated.

Tactics included combatting doctors' "hesitancy" to prescribe the medication, and persuading them to prescribe OxyContin over lower-dose, short-acting opioids, thus increasing the risk of addiction.

Massachuse­tts is asking that Publicis Health pay "compensato­ry damages" of an unspecifie­d amount for having "created a public nuisance." In a statement, a spokespers­on for Publicis Health said that "all of our work was completely lawful," and that the events in the lawsuit fall outside the statute of limitation­s.

"Publicis Health acted solely as an advertisin­g agency," the spokespers­on said, adding that "our role was limited to implementi­ng Purdue's advertisin­g plan and buying media space." US states has sued Purdue-which filed for bankruptcy in 2019 -- as well as many other entities believed to be co-responsibl­e for the devastatio­n caused by the opioid crisis.

These include global consulting firm McKinsey and the wealthy Sackler family, which founded

Purdue.

A trial meanwhile opened Monday in West Virginia, one of the states most devastated by the opioid epidemic, against leading pharmaceut­ical makers and distributo­rs.

Before the Covid-19 pandemic, the crisis seemed to be leveling off after nearly 500,000 Americans died from overdoses involving prescripti­on and illicit opioids from 1999 to 2019, according to the Centers for Disease Control and Prevention.

But the death toll from overdoses began to climb again in 2020, reaching a record high of more than 87,000 fatalities from September 2019 to September 2020, according to federal figures released in April.Tokyo stocks jumped Thursday after rallies on Wall Street, as investors watched corporate earnings in Japan. The benchmark Nikkei 225 index ended up 1.80 percent or 518.74 points at 29,331.37, while the broader Topix index advanced 1.54 percent or 29.16 points to 1,927.40.

The Tokyo market reopened for its first session of the week after a series of public holidays.

The Nikkei was boosted by overnight gains on Wall Street, where the Dow index added 0.3 percent as investors looked to corporate earnings with optimism. The dollar fetched 109.31 yen in Asian trade, against 109.19 yen late Wednesday in New York.

"The Nikkei made a strong start to the day as investors cheered gains in overseas shares during the holiday, with the Dow renewing its record high," SMBC Securities said. Steel, mining and maritime logistics sectors enjoyed gains, the brokerage added. But the Nikkei faced selling pressure in the afternoon as it approached the 29,500 mark. Investors were also keeping an eye on what Prime Minister Yoshihide Suga might say later about the pandemic situation in Japan.

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