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 : Drugmaker Endo settles opioid claims by Tennessee counties, cities for $35 mln

07/22/2021 | 01:10pm EDT

July 22 (Reuters) - Endo International Plc has agreed to pay $35 million to settle a lawsuit by Tennessee local governments and on behalf of a child allegedly born addicted to painkillers accusing the drugmaker of fueling the opioid epidemic, the company announced Thursday.

The settlement came just days before the case was set to go to trial to decide damages, in which plaintiffs were expected to seek $2.4 billion. A judge had previously ruled Endo liable as a penalty for failing to hand over evidence.

The deal must still be approved by some of the plaintiffs, Endo said. Gerard Stranch, a lawyer for the plaintiffs, declined to comment.

Endo shares had jumped about 25% on Tuesday after local government officials revealed that the drugmaker had made a settlement offer.

The lawsuit, which was filed in 2017, is being pursued by nine counties, 18 cities and a "Baby Doe" allegedly born with neonatal abstinence syndrome, which is caused by withdrawal after in-utero opioid exposure.

The plaintiffs alleged that Endo downplayed the risks of its painkiller Opana ER, which was pulled from the market in 2017 due to concerns about abuse. OxyContin maker Purdue Pharma and generic opioid maker Mallinckrodt Plc were also named as defendants in the case, but subsequently filed for bankruptcy, leaving Endo as the only active defendant.

Chancellor E.G. Moody of the Circuit Court for Sullivan County, who is overseeing the case, ruled in April that Endo and its lawyers engaged in a "coordinated strategy" to withhold evidence, including about opioid prescribers. He took the unusual step of entering judgment of liability against the company as a sanction, leaving only damages to be decided at trial.

Nearly 500,000 people died from opioid overdoses in the United States from 1999 to 2019, according to the U.S. Centers for Disease Control and Prevention. The CDC last week said provisional data showed that 2020 was a record year for overall drug overdose deaths with 93,331, up 29% from a year earlier.

The Tennessee case is among the more than 3,000 lawsuits, mostly by local governments, accusing drugmakers of falsely promoting opioids as safe and distributors and pharmacies of overlooking red flags that drugs were being diverted to illegal channels. The defendants have denied the claims.

U.S. state attorneys general on Wednesday unveiled a settlement proposal in which leading drug distributors McKesson Corp, Cardinal Health Inc and AmerisourceBergen Corp would pay a combined $21 billion, and drugmaker Johnson & Johnson would pay $5 billion, to resolve most claims against them.

Endo is not part of that deal, and is currently defending itself along with other drugmakers at trials in New York and California. The company in 2019 settled opioid claims by two Ohio counties for $10 million. (Reporting By Brendan Pierson in New York, additional reporting by Tom Hals and Nate Raymond; editing by Diane Craft)


ę Reuters 2021
All news about ENDO INTERNATIONAL PLC
09/23ENDO INTERNATIONAL : Launches First and Only Generic Version of Chantix (varenicline) Tabl..
AQ
09/22Health Care Stocks Pare Gains in Late Wednesday Trade
MT
09/22ENDO INTERNATIONAL : Rolls Out Generic Version of Pfizer's Chantix in the US
MT
09/22ENDO INTERNATIONAL : Launches First and Only Generic Version of Chantix« (varenicline) Tab..
PR
09/13PRO BANKRUPTCY BRIEFING : Hertz Seeks CEO After Bankruptcy; Delta Variant Renews Calls for..
DJ
09/10Health Care Down As Safe-Haven Appeal Wanes -- Health Care Roundup
DJ
09/10Take-Two, Apellis fall; Dave & Buster's, Endo rise
AQ
09/10Endo International Exploring Strategic Alternatives
CI
09/10Wall Street Set for Gains as Biden-Xi Call Lifts Sentiment
MT
09/10ENDO INTERNATIONAL : Agrees to $50 Million Settlement of New York Opioid Litigation -- Sha..
MT
More news
Analyst Recommendations on ENDO INTERNATIONAL PLC
More recommendations
Financials (USD)
Sales 2021 2 773 M - -
Net income 2021 39,5 M - -
Net Debt 2021 6 736 M - -
P/E ratio 2021 5,33x
Yield 2021 -
Capitalization 759 M 759 M -
EV / Sales 2021 2,70x
EV / Sales 2022 2,57x
Nbr of Employees 3 397
Free-Float 98,5%
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
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Last Close Price 3,25 $
Average target price 6,57 $
Spread / Average Target 102%
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