Trouble ahead for Endo as creditors fight over firm's future
Ireland-domiciled American drugmaker Endo International (Nasdaq: ENDO) looks set to enter bankruptcy, after the firm failed to make an interest payment.
In a filing with the US Securities and Exchange Commission (SEC), the firm revealed it had “elected not to make an interest payment of approximately $38 million due on June 30,” instead entering a 30-day grace period.
Endo, which has been hit by a string of lawsuits in connection with its role in the US opioid crisis, said it would “continue discussions with certain creditors” to pursue strategic options.
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