NEW YORK — The former head of a drug distributor has been indicted on what federal prosecutors say are the first criminal charges against a drug company executive to stem from the opioid crisis.
The indictment unsealed Tuesday alleges former Rochester Drug Co-Operative CEO Laurence Doud III ordered subordinates to ignore red flags about certain pharmacy customers to maximize company revenues and his own pay, which more than doubled between 2012 and 2016 as the company’s sales of drugs like oxycodone and fentanyl skyrocketed.
Doud, 75, surrendered to authorities in New York City and is awaiting arraignment on two counts of conspiracy. His lawyer said he would fight the charges. If convicted, he faces a mandatory minimum sentence of 10 years in prison, U.S. Attorney Geoffrey Berman said.
