Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

ENDO INTERNATIONAL PLC

(ENDP)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Endo International : California judge questions counties' opioid case against drugmakers at trial's end

09/30/2021 | 03:14pm EST

Sept 30 (Reuters) - A California judge on Thursday said several large counties accusing four drugmakers of fueling an opioid epidemic had presented a "dearth of evidence" during a multi-billion dollar trial to support finding the companies' pain pill marketing caused the health crisis.

Judge Peter Wilson sharply questioned the counties' lawyer during closing arguments about what evidence would support finding Johnson & Johnson, Teva Pharmaceutical Industries Ltd, Endo International PLC and AbbVie Inc's Allergan unit liable for the epidemic.

Fidelma Fitzpatrick, a lawyer for the populous Santa Clara, Los Angeles and Orange counties and the city of Oakland, argued the drugmakers' marketing downplayed opioids' addictive risks and promoted them for broader uses than intended.

That advertising led to billions of pain pills flooding their communities over 20 years and an ongoing rise in opioid overdose deaths, Fitzpatrick said.

"Those promotional activities worked," she said.

But Wilson, the Orange County Superior Court judge presiding over the non-jury trial, said the plaintiffs lacked evidence showing the marketing caused doctors to write inappropriate, rather than appropriate, prescriptions.

Wilson said policymakers seemed to have known an increase in prescriptions of U.S. Food and Drug Administration-approved opioids could result in "regrettable" abuse yet accepted that as a trade-off to ensure pain was treated.

"It's the dearth of evidence by a single doctor, a single patient, a single person to say 'I changed my practices because ... ,'" he said.

The case is one of 3,300-plus lawsuits by largely state and local governments seeking to hold drugmakers, distributors and pharmacies responsible for an epidemic that U.S. government data shows led to nearly 500,000 opioid overdose deaths from 1999 to 2019.

The closing argument came after J&J and the three largest distributors- McKesson Corp, Cardinal Health Inc and AmersourceBergen -in July agreed to pay up to $26 billion to settle cases against them.

The California counties, though, are not part of the proposed settlement with J&J and have pressed ahead with their case.

Should Wilson find the drugmakers liable, the counties say they should have to pay more than $50 billion to cover the costs of abating the public nuisance they created, plus penalties.

(Reporting by Nate Raymond in Boston; Editing by Aurora Ellis)


ę Reuters 2021
All news about ENDO INTERNATIONAL PLC
11/22Endo's Qwo« (collagenase clostridium histolyticum-aaes) Data Presented at the American ..
AQ
11/22Endo International plc Announces its Qwo (Collagenase Clostridium Histolyticum-Aaes) Da..
CI
11/18Endo International Unit Start Shipment Of Generic Calcitonin Salmon Injection
MT
11/18Endo Begins Shipment of Generic MIACALCIN« (calcitonin salmon) Injection
PR
11/18Endo Begins Shipment of Generic MIACALCIN? (calcitonin salmon) Injection
CI
11/17Endo International Unit to Help US Government Produce Critical Medicines
MT
11/17Endo Announces Fill-Finish Manufacturing Agreement with U.S. Government to Support Prod..
AQ
11/09Oklahoma Supreme Court Throws Out $465 Million Opioid Lawsuit Against Johnson & Johnson
MT
11/09Endo Announces Agreement with Premier to Supply VASOSTRICT (vasopressin injection, USP)..
AQ
11/08Endo International Strikes Deal to Supply Vasostrict Vials Through Premier Program; Sha..
MT
More news
Analyst Recommendations on ENDO INTERNATIONAL PLC
More recommendations
Financials (USD)
Sales 2021 2 933 M - -
Net income 2021 10,2 M - -
Net Debt 2021 6 712 M - -
P/E ratio 2021 3,62x
Yield 2021 -
Capitalization 1 166 M 1 166 M -
EV / Sales 2021 2,69x
EV / Sales 2022 2,70x
Nbr of Employees 3 397
Free-Float 98,4%
Chart ENDO INTERNATIONAL PLC
Duration : Period :
Endo International plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ENDO INTERNATIONAL PLC
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Last Close Price 4,99 $
Average target price 6,86 $
Spread / Average Target 37,4%
EPS Revisions
Managers and Directors
Blaise A Coleman President, Chief Executive Officer & Director
Mark Bradley Chief Financial Officer & Executive Vice President
Mark G. Barberio Chairman
Ruth Thorpe Chief Information Officer
Robert Polke Global Head-Operations