Breaking News
Investing Pro 0
💎 Reveal Undervalued Stocks Hiding in Any Market Get Started

Former drug firm exec sentenced to more than 2 years for illegal opioid sales

Stock Markets Mar 08, 2023 02:16PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: Laurence Doud III, former CEO of Rochester Drug Co-Operative, exits the Manhattan Federal Courthouse in New York, U.S., April 23, 2019. REUTERS/Brendan McDermid/File Photo

By Brendan Pierson

NEW YORK (Reuters) -The former chief executive of Rochester Drug Co-operative was sentenced to more than two years in prison on Wednesday for conspiring to distribute opioids illegally, in the first criminal opioid trafficking case against a drug wholesaler and its executives.

U.S. District Judge George Daniels sentenced Laurence Doud, 79, to 27 months at a hearing in Manhattan. Daniels said Doud's crime was serious and "motivated solely by profit," but that the government's requested sentence of 15 years was more than needed.

Daniels ruled that Doud may remain free on bail while he appeals his conviction to the 2nd U.S. Circuit Court of Appeals.

"Laurence Doud cared more about his own paycheck than his responsibility... to prevent dangerous opioids from making their way to pharmacies, drug dealers and people struggling with addiction," U.S. Attorney Damian Williams said in a statement.

Robert Gottlieb, one of Doud's attorneys, called the sentence "very thoughtful and appropriate."

Gottlieb had argued during the sentencing hearing that Doud should avoid jail entirely because he did not intend drugs to be sold illegally.

Doud himself, before being sentenced, told the judge that he had "no desire to see anyone be hurt."

"I recognize what a lousy job I did," he said. "I am forever sorry for the problems that have occurred because of this."

Rochester Drug Co-operative (RDC), Doud and another executive were charged in 2019 with conspiring to distribute illegal narcotics and accused of ignoring clear red flags that the drugs were being sold illegally, such as large bulk orders of pills and payments in cash.

Doud was convicted in February 2022. The other executive, Chief Compliance Officer William Pietruszewski, pleaded guilty and testified against Doud. He is scheduled to be sentenced on March 29.

RDC, which filed for bankruptcy in 2020, agreed in 2019 to pay $20 million to settle criminal and civil charges related to its opioid sales.

More than half a million people died from drug overdoses in the United States in the period from 1999 to 2020, according to the U.S. Centers for Disease Control and Prevention.

Former drug firm exec sentenced to more than 2 years for illegal opioid sales
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email