Endo Will File for Bankruptcy Due to Opioid Lawsuits “Imminently”

Endo International signaled on Tuesday, August 11th, that bankruptcy is in the company’s immediate future. The announcement comes as the company faces thousands of lawsuits related to its role in the US opioid epidemic. The suits center around its drug Opana ER, which was pulled from the market in 2017 by the US Food and Drug Administration.

According to Nicole Defeudis, “The Irish company has settled some claims, including a handful earlier this year in which it agreed to shell out $65 million to Florida, $26 to West Virginia, $7.5 million to Louisiana, $9.75 million to Arkansas, and $9 million to Mississippi. However, most of the suits remain unresolved.”

To read more, click here.

(Source: Endpoints News, August 10th, 2022)