Log in
E-mail
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 : J&J, other drugmakers go to trial in California in $50 billion case over 'deadly legacy' of opioids

04/19/2021 | 10:15pm EDT
The company logo for Johnson & Johnson is displayed on a screen to celebrate the 75th anniversary of the company's listing at the NYSE in New York

(Reuters) - Four drugmakers helped cause the deadly U.S. opioid epidemic by deceptively marketing their drugs and downplaying their addictive risks, a lawyer for several California counties argued on Monday at the start of a multibillion-dollar trial.

Those counties accuse Johnson & Johnson, Teva Pharmaceutical Industries Ltd, Endo International Plc and AbbVie Inc's Allergan unit of fueling a drug crisis that according to the U.S. government resulted in nearly 500,000 opioid overdose deaths over two decades.

The populous Santa Clara, Los Angeles and Orange counties and the city of Oakland say that should a judge following the non-jury, virtual trial find the drugmakers liable, they should have to pay more than $50 billion to cover the costs of abating the public nuisance they created, plus penalties.

The plaintiffs' lawyer, Fidelma Fitzpatrick, told Orange County Superior Court Judge Peter Wilson that the case was about the companies' "deadly legacy" of promoting opioid painkillers to treat chronic pain, resulting in a "mountain" of addictive pills flooding the state and country.

"The evidence will show each of these companies, all of them, knew what would happen: that their opioids would cause the crushing burden of addiction, overdose and death that California and its people have experienced," she said.

Defense lawyers countered that their drugs were a small part of the overall opioid market, that doctors were warned of their risks and that the counties could not prove they caused the health crisis.

"You won't hear from a single doctor who was ever misled," Collie James, Teva's lawyer.

Mike Yoder, J&J's lawyer, said its painkillers, which it no longer markets, were rarely abused. "They did not cause any opioid crisis, and they did not cause any public nuisance," he said.

John Hueston, Endo's lawyer, said the California communities were litigating over a handful of "innocuous statements" the U.S. Food and Drug Administration approved.

"That's game over," he said. "Under the law, whatever the FDA says was gospel."

More than 3,300 similar lawsuits are pending nationally over the opioid crisis. The only other case to go to trial in the opioid litigation resulted in the state of Oklahoma in 2019 winning a $465 million judgment against J&J, which is appealing.

Other cases are slated to go to trial in the coming months, creating new pressure for the companies to reach settlements.

The nation's three largest drug distributors - McKesson Corp, AmerisourceBergen Corp and Cardinal Health Inc - and J&J have proposed paying a combined $26 billion to resolve the cases against them. The proposed deal has not been finalized.

(Reporting by Nate Raymond in Boston; Editing by Bill Berkrot and Christopher Cushing)

By Nate Raymond and Brendan Pierson


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ENDO INTERNATIONAL PLC 5.23% 5.43 Delayed Quote.-24.37%
TEVA PHARMACEUTICAL INDUSTRIES LIMITED -1.21% 3410 Delayed Quote.11.95%
All news about ENDO INTERNATIONAL PLC
05/10ENDO INTERNATIONALá : RBC Cuts Price Target on Endo International to $6 From $7,..
MT
05/07ENDO INTERNATIONALá : 2020 Irish Statutory Accounts
PU
05/07ENDO INTERNATIONALá : Management's Discussion and Analysis of Financial Conditio..
AQ
05/07ENDO INTERNATIONALá : Q1 2021 Endo International plc Earnings Conference Call
PU
05/06ENDO : Q1 Earnings Snapshot
AQ
05/06ENDO INTERNATIONAL PLCá : Results of Operations and Financial Condition (form 8-..
AQ
05/06ENDO INTERNATIONALá : Earnings Flash (ENDP) ENDO INTERNATIONAL Reports Q1 Revenu..
MT
05/06ENDO INTERNATIONALá : Earnings Flash (ENDP) ENDO INTERNATIONAL Reports Q1 EPS $0..
MT
05/06ENDO INTERNATIONALá : Reports First-Quarter 2021 Financial Results And Updates 2..
PR
05/03ENDO INTERNATIONALá : ENDP Q1 2021 Slides
PU
More news
Financials (USD)
Sales 2021 2 719 M - -
Net income 2021 122 M - -
Net Debt 2021 6 793 M - -
P/E ratio 2021 8,62x
Yield 2021 -
Capitalization 1 267 M 1 267 M -
EV / Sales 2021 2,96x
EV / Sales 2022 2,89x
Nbr of Employees 3 397
Free-Float 98,2%
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
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 14
Average target price 7,60 $
Last Close Price 5,43 $
Spread / Highest target 121%
Spread / Average Target 40,0%
Spread / Lowest Target -44,8%
EPS Revisions
Managers and Directors
NameTitle
Blaise A Coleman President, Chief Executive Officer & Director
Mark Bradley Chief Financial Officer & Executive Vice President
Paul V. Campanelli Chairman
Ruth Thorpe Chief Information Officer
Robert Polke Global Head-Operations
Sector and Competitors