![]() The money – which is the first financial award in a case brought against the pharmacies in a federal court – will be allocated to tackle an opioid crisis in Lake and Trumbull counties, located outside Cleveland.Īttorneys for the counties, who accused the pharmacies of dispensing vast quantities of opioids whilst turning a blind eye to abuse of the drugs – have said they estimate the cost of combatting opioid abuse could run to $3.3 billion.ĬVS, Walmart, and Walgreens have all said they will appeal the ruling, insisting they neither manufactured or marketed opioids, nor distributed them to illegal 'pill mills' and rogue Internet pharmacies that they claim fuelled the epidemic of opioid abuse. Meanwhile, three of the largest pharmacy chains in the US – CVS, Walgreens and Walmart – have been ordered to pay $650 million to two Ohio counties in the wake of a jury trial, which found them culpable of fuelling the opioid crisis last November. The settlement would ban Endo from promoting opioids and require it to hand over millions of documents related to its role in the opioid crisis for publication in a public online archive. Separately, the company also agreed in principle a deal with 34 US states to provide $450 million over a period of ten years, to resolve allegations that the company boosted opioid sales using deceptive marketing practices. In a statement, Endo said its plans would result in a "substantial" reduction in debt and would create voluntary trusts funded with $550 million set aside for "certain opioid claims." ![]() ![]() The Ireland-domiciled company is struggling under the weight of around $8 billion in debt, and has been hamstrung by costs associated with fighting thousands of suits that accuse it of wrongdoing in its marketing and promotion of painkiller Opana ER (oxymorphone), which was withdrawn from the market five years ago, as well as oxycodone-based products Percocet and Endocet.Įndo's slide into bankruptcy follows in the footsteps of Purdue Pharma – which filed in 2019 but is still negotiating opioid settlement and corporate restructuring terms – as well as Mallinckrodt, which emerged from chapter 11 after agreeing a $1.6 billion settlement earlier this year. 'I am proud of all that the Endo team achieved in a very challenging year. Paladin Labs aims to launch Xcopri in Canada in December 2023.Endo International is the latest drugmaker to file for chapter 11 bankruptcy protection in connection with opioid litigation in the US, after agreeing a $6 billion deal with creditors that includes an offer to settle outstanding lawsuits. 25, 2021 /CNW/ - Endo International plc (NASDAQ: ENDP) today reported financial results for the fourth-quarter and full-year ended Decemand introduced 2021 financial guidance. The US Food and Drug Administration (FDA) first approved Xcopri in 2019, followed by a European approval of the drug in 2021 under the name Ontozry. In a 29 June press release, Paladin Labs’ vice-president and general manager Livio Di Francesco said: “Paladin is dedicated to addressing unmet medical needs, and we are proud to achieve this approval-a milestone in epilepsy treatment.” On March 5, 2021, Endo launches QWO ®, the first and only FDA-approved injectable for the treatment of moderate to severe cellulite in the buttocks of adult women. The drug is currently being studied in a Phase III trial (NCT05067634), evaluating its efficacy in children aged two to 17 years. Endo explained that with the acquisition of AMS, the pharmaceutical company would be gaining what it described as promising medical devices and services. Omnibus Hearing Amended Notice of Agenda of Matters Scheduled for Hearing on Octoat 11:00 a.m. based facilities for the biotech companys COVID-19. Furthermore, a Phase II open-label extension trial (NCT01866111) found that, after a 12-month period, 13% to 16% of patients achieved seizure freedom. Initial Case Conference Order signed on Scheduling Initial Case Conference hearing to be held on at 11:00 AM at Courtroom 723 (JLG) Add to Calendar. Endo International Plc has been inching higher since September 25 after an agreement with Novavax to provide manufacturing services in its U.S. Phase III data showed that all patients who took Xcopri saw a decrease in their average drug load with a mean change of 29% (mean drug load = 2.52) and 32% (mean drug load = 2.43) after 12 and 24 months of treatment, respectively. ![]() This was based on efficacy data from the Phase II and III studies. Health Canada accepted the Montreal-headquartered company’s regulatory filings for Xcopri in August 2022. In this deal, SK Biopharmaceuticals received an upfront payment of $20m but remained eligible to receive $21m more from Endo, subject to the achievement of certain development and commercial milestones. SK Biopharmaceuticals and SK Life Science first discovered and developed the drug, but they gave Endo the rights to commercialise the drug in Canada in a 2021 licensing agreement. ![]()
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