--- title: "Purdue Pharma Inc., general partner of Purdue Pharma L.P." language: en canonical: https://dossiertwist.com/dossiers/purdue-pharma/purdue-pharma-inc/ as_of: 2026-10-22 keywords: ["Purdue Pharma L.P.","Purdue Pharma Inc.","OxyContin","Sackler family","Richard Sackler","Pharmaceutical Research Associates L.P.","Beacon Company","Rosebay Medical Company L.P.","The Purdue Frederick Company","Rhodes Pharmaceuticals","Chapter 11","Harrington v. Purdue Pharma L.P.","third-party releases","Knoa Pharma","McKinsey & Company","opioid litigation","guilty plea","Master Disbursement Trust","shareholder settlement","Mundipharma"] --- # Purdue Pharma Inc., general partner of Purdue Pharma L.P. - Also known as: PPI - Jurisdiction: United States (US) - U.S. Internal Revenue Service (employer identification number): 06-1307486 - Company register: F03000005558 (Florida Department of State, Division of Corporations) - Profiles: **Question.** What was Purdue Pharma Inc., who owned and directed it, and what became of it? **Answer.** Purdue Pharma Inc. is a New York corporation and was the general partner through whose board Purdue Pharma L.P. was managed. In 2019 Banela Corporation owned half of it and Linarite Holdings LLC and Perthlite Holdings LLC a quarter each; its board seats followed Class A, Class B and At-Large share classes, and it was itself one of the Chapter 11 debtors. Under the confirmed plan its board was dissolved and all interests in it were cancelled when the plan took effect on 1 May 2026. ## A New York corporation and general partner - Analysis: Purdue Pharma Inc. (PPI) is a New York corporation that, like the partnership, had its headquarters at One Stamford Forum, 201 Tresser Boulevard, Stamford, Connecticut, and it was the general partner of Purdue Pharma L.P. In the resolutions its board adopted on 15 September 2019 to start the bankruptcy cases, PPI recited that role and its role as general partner or managing general partner of the other entities on Schedule 1A to the resolutions; the United States' proof of claim of July 2020 lists PPI's own case as No. 19-23648. The District Court's 2021 decision records that PPI's board managed the partnership, and the directors sued in Massachusetts declared in 2019 that the partnership itself had no directors. Before the petition date, the Disclosure Statement says, PPI was removed as general partner of certain non-debtor entities and replaced non-debtors as general partner of Purdue Pharmaceutical Products L.P. and Purdue Neuroscience Company, so that it effectively managed all of the partnership's subsidiaries during the cases. [src-001] [src-003] [src-015] [src-007] [src-038] [src-096] - Documented: The debtors' Disclosure Statement of July 1, 2025 states that, as part of governance changes made before the September 15, 2019 petition date, all general partnership relationships between debtor and non-debtor entities were terminated: Purdue Pharma Inc. was removed as general partner of certain non-debtor entities and replaced certain non-debtor entities as general partner of the debtors Purdue Pharmaceutical Products L.P. and Purdue Neuroscience Company, so that all of Purdue Pharma L.P.'s subsidiaries were directly or indirectly effectively managed by PPI from the petition date. Officers or employees of Purdue Pharma L.P. who were also directors, officers or employees of the independent associated companies (IACs) resigned one of the roles, so that none held both on the petition date or during the cases. [src-015] [src-001] - Qualification: The Disclosure Statement here calls Purdue Pharmaceutical Products L.P. 'formerly known as Avrio Health L.P.', which conflicts with its own debtor list and the Confirmation Order, where Avrio Health L.P. became Purdue Products L.P. and Purdue Pharmaceutical Products L.P. is a separate debtor. The non-debtor entities whose general partnership ended are not named. - Analysis: Florida registered PPI as a foreign profit corporation of New York on 6 November 2003 (document F03000005558); its record, retrieved in October 2026, shows a withdrawal filed on 1 October 2026 and an inactive status. An undated aggregator copy of Connecticut registry data gives PPI the label CT-0265632 and Prentice Hall Corporation System as registered agent and lists directors without dates; it is not the registry itself and has not been checked against the state record, though official records, the DOJ settlement's tenure list and the Florida record, confirm that David Sackler, Ilene Sackler Lefcourt, Beverly Sackler and Cecil Pickett, among the directors it lists, did sit on the board. Canadian companies called 'Purdue Pharma Inc.' and 'Purdue Pharma' belong to a separate group of independent associated companies and are not this debtor. [src-103] [src-102] [src-026] [src-004] [src-047] [src-015] - Attributed: In its factum as foreign representative in the Canadian recognition proceeding before the Ontario Superior Court of Justice (Commercial List), returnable 21 September 2021, Purdue Pharma L.P. stated that products in Canada were sold and marketed by Purdue Canada, not by the Chapter 11 debtors, and that Purdue Pharma has never manufactured, distributed, marketed, promoted or sold OxyContin in Canada. The debtors' 2025 Disclosure Statement explains that Canadian entities called "Purdue Pharma Inc." and "Purdue Pharma" are IACs and not the debtors Purdue Pharma Inc. or Purdue Pharma L.P., and that Purdue Canada generally consists of non-debtor IACs. [src-047] [src-015] - Qualification: The statement about OxyContin sales in Canada is the debtors' position against Canadian claimants. Because the Canadian companies share the debtors' names, records that say "Purdue Pharma" in a Canadian context may refer to this separate Sackler-owned group. - Outcome: On 17 May 2022 Purdue Canada agreed with 14 Canadian federal, provincial and territorial governments to pay CAD $150 million over seven years to settle a proposed British Columbia class action for healthcare costs against it and other opioid manufacturers and distributors, including Purdue Pharma L.P. and The Purdue Frederick Company; the settlement became effective on 22 May 2024 and Purdue Canada made the first payment on 21 June 2024. ## Shareholders and share classes - Analysis: The debtors' 2019 ownership statement records that Banela Corporation directly owned 50% of PPI and Linarite Holdings LLC and Perthlite Holdings LLC 25% each, and that no one else held 10% or more. PPI's certificate of incorporation tied its board seats to share classes: Class A Directors were elected by the Class A shareholders, Class B Directors by the Class B shareholders and At-Large Directors by both jointly. A September 2019 letter rogatory issued at the State of New York's request describes Banela, a British Virgin Islands company, as owner of all of PPI's Class A shares for the benefit of Mortimer Sackler's family; that description was drawn up for the State in contested litigation and is not a finding, though it is consistent with the debtors' 50% figure. [src-001] [src-015] [src-014] [src-003] [src-004] [src-058] - Attributed: A letter rogatory filed on September 13, 2019 by the Supreme Court of the State of New York, County of Suffolk (Commercial Division), at the request of the State of New York in its opioid suit against Purdue Pharma L.P., members of the Sackler family and others, to obtain documents from Banela Corporation in the British Virgin Islands, describes Banela Corporation, incorporated in the British Virgin Islands, as the sole owner of all Class A shares of Purdue Pharma Inc. for the benefit of Mortimer Sackler's family. It also describes Banela as a partial owner of BR Holdings Associates, Inc., which it calls the general partner of Pharmaceutical Research Associates, L.P. (formerly Purdue Holdings, L.P.), and of PLP Associates Holdings, Inc., the general partner of PLP Associates Holdings L.P. [src-014] [src-003] [src-004] [src-058] [src-001] - Qualification: The description was drawn up on the State's application in contested litigation and is not a finding on ownership. It is consistent with the debtors' own statement that Banela owns 50% of PPI, which does not mention share classes; the State of Connecticut's complaint, however, names Purdue Pharma Inc., not BR Holdings Associates, Inc., as general partner of Purdue Holdings L.P., and the retained records do not resolve which entity is PRA's general partner. - Response: No statement by Banela Corporation is in the retained record; the letter rogatory's service list names Debevoise & Plimpton LLP as attorneys for Banela Corporation, together with Stillwater Holdings LLC, Stanhope Gate Corporation, Millborne Trust Company Limited, Heatheridge Trust Company Limited and Jonathan G. White. - Outcome: The Bankruptcy Court's injunction of 11 October 2019 halted the Suffolk County litigation against Purdue and the non-debtor related parties. Banela Corporation is among the Purdue Parent Entities released from the United States' civil claims in the October 2020 settlement with the Named Sacklers, and it is listed among the Purdue Parent Entities in Exhibit X to the confirmed plan's shareholder settlement. ## Board and officers - Analysis: The board page dates every director's term; in brief, the District Court found that from about 1993 until 2018 at least six or seven Sackler family members always sat on PPI's board and that independent directors never equalled or outnumbered them, and the family directors left between October 2017 and 16 January 2019. Steve Miller became chairman in July 2018, and the July 2025 Disclosure Statement listed six directors, a majority of whom, it says, had no prior connection to the families. From May 2019 a committee closed to family members, renamed the Special Committee in September 2019 and chaired by John S. Dubel, held exclusive authority over dividends and distributions, and from September 2019 no transaction or litigation with the family could proceed without its approval. [src-003] [src-015] [src-004] [src-007] - Analysis: PPI shared its chief executives with the partnership: John Stewart (June 2007 to December 2013), Mark Timney (January 2014 to June 2017) and Craig Landau (from June 2017) each declared that he was chief executive of both companies. Stuart D. Baker signed Purdue Pharma L.P.'s Florida qualification papers in October 2003 as PPI's Executive Vice President, Counsel to the Board and Secretary. Marc L. Kesselman, as Senior Vice President, General Counsel and Secretary, certified the board resolutions of 15 September 2019 authorising the bankruptcy filings. PPI's last Florida annual report, filed on 28 February 2026, named Landau as President and Chief Executive Officer, Terrence Ronan as Treasurer and CFO and Kesselman as Secretary. [src-033] [src-032] [src-074] [src-011] [src-015] [src-100] [src-026] [src-110] [src-001] [src-102] - Documented: Stuart D. Baker signed Purdue Pharma L.P.'s Florida qualification papers in October 2003 for Purdue Pharma Inc., as general partner, as its Executive Vice President, Counsel to the Board and Secretary, and an undated business-profile aggregator page reproducing Connecticut registry data lists him as an executive vice president of Purdue Pharma Inc. [src-026] [src-110] - Qualification: The aggregator entry is undated and secondary; the Florida filing is the dated record of the office. - Documented: The Florida Division of Corporations record of Purdue Pharma Inc. (a New York corporation registered in Florida as a foreign profit corporation; status inactive after a withdrawal filed on 1 October 2026; latest annual report filed 28 February 2026) lists as officers and directors: Craig Landau, MD (President and Chief executive officer), Terrence Ronan (Treasurer and CFO), Marc L. Kesselman (Secretary), Robert S. Miller (Chairman of the Board) and directors Ken Buckfire, John S. Dubel, Michael Cola, Peter Boer, Cecil Pickett and Anthony M. Roncalli. [src-102] [src-015] - Qualification: The officer list reflects what the corporation last reported to the Florida registry and may not be current: it includes Peter Boer, who is not among the six directors listed in the debtors' July 2025 Disclosure Statement. ## Claims against PPI and its end - Analysis: PPI was sued alongside the partnership. The State of Connecticut's amended complaint of 6 May 2019 alleges that PPI controlled Purdue Pharma L.P. as its general partner and is liable for the partnership's misconduct as a matter of law, that the directors and chief executive of PPI controlled the partnership and that the two companies had the same chief executive, and that PPI was also general partner of Purdue Holdings L.P.; these allegations were not adjudicated in the retained records, and the New York letter rogatory names a different general partner for that holding partnership, a point the retained records do not resolve. Connecticut's suit was halted by the Bankruptcy Court's injunction of October and November 2019 covering Purdue and its non-debtor related parties, and in 2022 the State joined the revised settlement with the debtors and the Sacklers and withdrew its opposition to the plan, including the shareholder releases. [src-003] [src-044] [src-051] - Analysis: PPI was among the debtors that filed for Chapter 11 on 15 September 2019, with Purdue Pharma L.P. and 23 affiliated debtors jointly administered under case No. 19-23649. Under the confirmed plan the boards of all debtors were dissolved on the effective date and their members deemed to have resigned, all interests in PPI were cancelled, and a PPLP Liquidator became sole director and officer of the liquidating debtors, succeeding to PPI's powers as the partnership's general partner, to wind them up. The plan took effect on 1 May 2026, when, the New York Attorney General announced, Purdue shut down and ceased operations and Knoa Pharma began operating in its place. [src-001] [src-020] [src-038] [src-115] [src-039] [src-015] [src-005] - Documented: On 15 September 2019 Purdue Pharma L.P. and its affiliated debtors filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York at White Plains, New York; Purdue Pharma L.P.'s case is In re Purdue Pharma L.P., No. 19-23649, under which the cases of Purdue Pharma L.P. and 23 affiliated debtors are jointly administered. The debtors' notice of suggestion of bankruptcy and the United States' proof of claim give 15 September 2019 as the filing date for all debtors, while the court-appointed claims agent's case website gives 15 and 16 September 2019. The cases were before Judge Robert D. Drain until they were reassigned to Judge Sean H. Lane as of 1 July 2022. The court's case record published on GovInfo lists the case under the Bankruptcy Court's White Plains office in the Second Circuit. [src-001] [src-020] [src-038] [src-115] - Outcome: The Bankruptcy Court confirmed the debtors' Eighteenth Amended plan on 18 November 2025, and the plan became effective and was substantially consummated on 1 May 2026. ## Sources - [src-001] Purdue's notice of suggestion of bankruptcy and automatic stay, with the Chapter 11 petition of Purdue Pharma L.P. (Commonwealth of Massachusetts v. Purdue Pharma L.P.), Commonwealth of Massachusetts (Office of the Attorney General), 2019-09-16 - [src-003] Memorandum decision and order of Judge Colleen McMahon vacating the confirmation order, In re Purdue Pharma L.P., S.D.N.Y. 21-cv-7532 (CM) (master case; filed as Document 148 in related case 7:21-cv-07585), Office of the Connecticut Attorney General, 2021-12-16 - [src-015] Court record source · src-015 - [src-007] Declarations of the director defendants, Commonwealth of Massachusetts v. Purdue Pharma L.P., No. 1884-cv-01808(B), Commonwealth of Massachusetts (Office of the Attorney General), 2019-07-16 - [src-038] Proof of claim of the United States (Department of Justice) in In re Purdue Pharma L.P., with attachment, Commonwealth of Massachusetts (Office of the Attorney General), 2020-07-30 - [src-096] Court record source · src-096 - [src-103] Florida Division of Corporations record: Purdue Pharma L.P. (B03000000381), Florida Department of State, Division of Corporations - [src-102] Florida Division of Corporations record: Purdue Pharma Inc. (F03000005558), Florida Department of State, Division of Corporations, 2026-02-28 - [src-026] Corporate registry source · src-026 - [src-004] Settlement agreement between the United States and the Named Sacklers, with addenda, U.S. Department of Justice, 2020-10 - [src-047] Court record source · src-047 - [src-014] Court record source · src-014 - [src-058] Court record source · src-058 - [src-033] Declaration of John Stewart in support of the CEO defendants' motion to dismiss, Commonwealth of Massachusetts v. Purdue Pharma L.P., Commonwealth of Massachusetts (Office of the Attorney General), 2019-07-03 - [src-032] Declaration of Mark Timney in support of the CEO defendants' motion to dismiss, Commonwealth of Massachusetts v. Purdue Pharma L.P., Commonwealth of Massachusetts (Office of the Attorney General), 2019-07-03 - [src-074] Company statement source · src-074 - [src-011] Declaration of Craig Landau in support of the CEO defendants' motion to dismiss, Commonwealth of Massachusetts v. Purdue Pharma L.P., Commonwealth of Massachusetts (Office of the Attorney General), 2019-07-03 - [src-100] Written testimony of Dr. Craig Landau, CEO of Purdue Pharma L.P., before the House Committee on Oversight and Reform, U.S. House of Representatives, Committee on Oversight and Reform, 2020-12-17 - [src-110] Florida filing: application of Purdue Pharma L.P. for authority to transact business and affidavit of capital contributions (2003), Florida Department of State, Division of Corporations, 2003-11 - [src-044] Court record source · src-044 - [src-051] Amended complaint, State of Connecticut v. Purdue Pharma L.P. et al., No. X07 HHD-CV-19-6105325-S (partially redacted), Office of the Connecticut Attorney General, 2019-05-06 - [src-020] Court record source · src-020 - [src-115] GovInfo United States Courts opinions record for case 19-23649, Purdue Pharma L.P., U.S. Government Publishing Office (GovInfo) - [src-039] Court record source · src-039 - [src-005] New York Attorney General press release on the shutdown of Purdue Pharma and the start of Knoa Pharma, Office of the New York State Attorney General, 2026-05-01