Miller, other AGs reach $450M settlement agreement with opioid maker Endo
BPC Staff Aug 17, 2022 | 7:58 pm
1 min read time176 wordsAll Latest News, Health & Wellness, Law & Government
Iowa Attorney General Tom Miller has reached an agreement in principle with pharmaceutical company Endo International PLC and its lenders, his office announced today. The agreement would provide up to $450 million to participating states and local governments, ban promotion of Endo’s opioids, and require Endo to turn over millions of documents related to its role in the opioid crisis for publication in a public online archive. It resolves allegations that Endo boosted opioid sales using deceptive marketing that downplayed the risk of addiction and overstated the benefits. Endo, an Ireland-based drugmaker with its U.S. headquarters in Malvern, Pa., makes generic and branded opioids including Percocet and Endocet, and also made Opana ER, which was withdrawn from the market in 2017. The company filed for Chapter 11 bankruptcy protection Tuesday in the Southern District of New York. Thirty-two other states, the District of Columbia and the U.S. Virgin Islands are also involved in the potential settlement. Each state’s share has yet to be determined. The Endo resolution is contingent on final documentation and bankruptcy court approval.