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.
Was this text invaluable?
Listed here are extra articles it’s possible you’ll get pleasure from.
Crucial insurance coverage information,in your inbox each enterprise day.
Get the insurance coverage business’s trusted publication