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ENDP

Endo

$4.43 /

+0.005 (+0.11%)

11:53
01/10/20
01/10
11:53
01/10/20
11:53

Endo settles opioid investigation with State of Oklahoma for $8.75M

Endo International announced that its subsidiaries Endo Pharmaceuticals Inc. and Par Pharmaceutical have executed a Settlement Agreement with the State of Oklahoma. The Settlement Agreement fully and finally resolves Oklahoma's investigation of the Settling Parties in connection with the opioid abuse crisis in Oklahoma and includes a release of all associated claims by Oklahoma to the Settling Parties and all of their affiliated entities and persons. In connection with the Settlement Agreement, Endo Pharmaceuticals Inc. has agreed to pay $8.75M to Oklahoma. The Settlement Agreement includes no admission of wrongdoing, fault or liability of any kind by the Endo Affiliates. The amount paid in connection with the Settlement Agreement is a fraction of the settlement and judgment amounts associated with other opioid manufacturers in Oklahoma to date and is the result of direct engagement among Oklahoma Attorney General Mike Hunter, his staff and counsel, and the Company's senior leadership. "Endo is very pleased to have reached a resolution with Oklahoma for $8.75 million through Attorney General Hunter and we appreciate his collaboration and careful consideration of a number of issues," said CLO Matthew Maletta. "We believe this settlement reflects the fact that Endo was one of the first pharmaceutical manufacturers to voluntarily cease promotion of all opioid medications, along with voluntarily withdrawing one of its leading branded opioid medications from the market in 2017 and terminating all research and development of new opioid medications. We also believe that Endo's cooperation and role in manufacturing a broad range of non-opioid pharmaceutical products, including safe and affordable generic medications and lifesaving sterile injectable medications, were important factors in concluding this settlement. As was the case with the Cuyahoga County and Summit County settlements executed by the Company in September 2019, the value of the Oklahoma settlement announced today should not be extrapolated to any other opioid-related cases or claims."

  • 06

    Jul

ENDP Endo
$4.43 /

+0.005 (+0.11%)

07/15/19 MSCO
Endo, Teva downgraded to Underweight on underappreciated risks at Morgan Stanley
07/15/19
Fly Intel: Top five analyst downgrades
09/11/19 GUGG
Endo assumed with a Neutral at Guggenheim
01/03/20 PIPR
Endo upgraded to Overweight from Neutral at Piper Jaffray

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