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Purdue Pharma family profits from sale of ski resorts in regions plagued by opioid addiction
Business
Purdue Pharma family profits from sale of ski resorts in regions plagued by opioid addiction
Crotched Mountain resort, seen here in 2003, is one of three New Hampshire ski sites members of the Sackler family stand to profit from. (Dan Williamson/AP)
By Christopher Rowland
September 29, 2019 at 7:56 p.m. EDT
NORTH CONWAY, N.H. — Mitchell Yeaton is battling a wave of opioid addiction from his counseling center in New Hampshire ski country, just a short drive from two winter resorts that are engines of the local economy, Attitash and Wildcat.
In this tourist mecca, jarring contrasts between well-to-do visitors and impoverished families shattered by addiction are part of the job, Yeaton said. But even so, a ski area deal unfolding here is rankling Yeaton and some other community leaders.
Some members of the billionaire Sackler family — the owners of Purdue Pharma, the company widely blamed for fueling America’s opioid crisis — will reap about $60 million in financial gains from the sale of 17 ski resorts in the Northeast and Midwest, according to financial disclosure filings.
Many of the ski areas in the transaction sit in places that have been hit hard by prescription narcotic abuse over the past 20 years, including those in New Hampshire, as well as hills in Vermont, the Catskills in New York, Ohio and Pennsylvania.
....
[Family that owns Purdue Pharma could hold on to most of personal fortune in proposed settlements]
The sale of the ski resorts was finalized last week even as the family’s role in the opioid crisis is being hotly contested in courts.
....
Chris Rowland joined The Washington Post business team in 2018 after serving as the Washington bureau chief for the Boston Globe, leading coverage of two presidential elections and overseeing political enterprise reporting. He previously covered health care for the Globe in Boston. Follow https://twitter.com/@PostRowland
Purdue Pharma family profits from sale of ski resorts in regions plagued by opioid addiction
Crotched Mountain resort, seen here in 2003, is one of three New Hampshire ski sites members of the Sackler family stand to profit from. (Dan Williamson/AP)
By Christopher Rowland
September 29, 2019 at 7:56 p.m. EDT
NORTH CONWAY, N.H. — Mitchell Yeaton is battling a wave of opioid addiction from his counseling center in New Hampshire ski country, just a short drive from two winter resorts that are engines of the local economy, Attitash and Wildcat.
In this tourist mecca, jarring contrasts between well-to-do visitors and impoverished families shattered by addiction are part of the job, Yeaton said. But even so, a ski area deal unfolding here is rankling Yeaton and some other community leaders.
Some members of the billionaire Sackler family — the owners of Purdue Pharma, the company widely blamed for fueling America’s opioid crisis — will reap about $60 million in financial gains from the sale of 17 ski resorts in the Northeast and Midwest, according to financial disclosure filings.
Many of the ski areas in the transaction sit in places that have been hit hard by prescription narcotic abuse over the past 20 years, including those in New Hampshire, as well as hills in Vermont, the Catskills in New York, Ohio and Pennsylvania.
....
[Family that owns Purdue Pharma could hold on to most of personal fortune in proposed settlements]
The sale of the ski resorts was finalized last week even as the family’s role in the opioid crisis is being hotly contested in courts.
....
Chris Rowland joined The Washington Post business team in 2018 after serving as the Washington bureau chief for the Boston Globe, leading coverage of two presidential elections and overseeing political enterprise reporting. He previously covered health care for the Globe in Boston. Follow https://twitter.com/@PostRowland
Liberty and Whitetail? Hey, I've been there.
