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You are at:Home » Drugmaker Endo Signs $65 Million Opioid Settlement with Florida
Insurer Need Not Defend Drug Chain in Opioid Suits Claiming Economic, Not Personal, Injury: Court

Drugmaker Endo Signs $65 Million Opioid Settlement with Florida

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By admin on October 25, 2022 Insurance

 

Drugmaker Endo Worldwide plc mentioned on Tuesday it had agreed to pay as much as $65 million to resolve claims by the state of Florida and native governments that the drugmaker helped gasoline the U.S. opioid epidemic.

The deal is the newest in a string of settlements that Endo has struck in current months to resolve related circumstances, together with a $63 million settlement with Texas in December.

The Florida settlement included no admission of wrongdoing, Endo mentioned, whereas reiterating that its purpose was to realize a worldwide opioid settlement.

Hundreds of lawsuits have been filed looking for to carry drugmakers, drug distributors and pharmacy chains accountable for a drug abuse disaster, which the U.S. authorities says has led to lots of of 1000’s of overdose deaths over 20 years.

Endo shares rose almost 4% to $3.40 in premarket buying and selling.

The settlement comes lower than a month after Texas officers introduced a $63 million settlement with Endo. The settlement requires Endo to pay into the Texas State Certified Settlement Fund—which is able to disperse funding accordingly—and not using a requirement of a worldwide settlement first, a information launch mentioned.

Subjects
Florida

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