Endo latest to settle New York state opioid cases

10 September 2021

Shares Ireland-incorporated Endo International (Nasdaq: ENDP) rose almost 18% to $2.10 in after-hours trading yesterday, after the company announced a $50 million settlement to exit a New York opioid trial that has been thrown into disarray amid allegations the drugmaker and its Arnold & Porter lawyers concealed "damning evidence" of improper marketing involving narcotic painkillers’

The plaintiffs in the foregoing cases asserted various claims relating to the defendants' marketing and sale of prescription opioid medications and/or alleged failures to take adequate steps to identify and report suspicious orders. A jury trial on liability has been ongoing since June 2021.

As a result of the settlement, Endo's subsidiaries - Endo Health Solutions, Endo Pharmaceuticals, Par Pharmaceutical, and Par Pharmaceutical Companies - have been severed from the trial. The settlement fully and finally resolves all of the asserted claims in exchange for a total payment of $50 million. ‘

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