![]() ![]() ![]() This may reduce waste and costs, optimize convenience and workflow and reduce the chance for preparation error-all of which support quality patient care.Įndo (NASDAQ: ENDP) is a specialty pharmaceutical company committed to helping everyone we serve live their best life through the delivery of quality, life-enhancing therapies. ![]() Ready-to-use, or RTU, products help streamline operations for hospitals by eliminating the need to prepare or transfer the product before patient administration. This acquisition is separate from Endo's previously announced exclusive licensing agreement with Nevakar. The one-time payment is expected to be expensed immediately in the second quarter as acquired in-process research and development costs. Under the terms of the agreement, EVL purchased the six product candidates from Nevakar Injectables for a one-time payment of $35 million. Endo's Par Sterile Products business will commercialize the products in the United States. With the acquisition, Endo controls all remaining development, approval, launch and commercialization activities for these product candidates. The product candidates are in various stages of development, with the first launch expected in 2025. "We look forward to further developing and bringing these durable and differentiated products to market-and to the healthcare providers and patients who need them." Our Standards: The Thomson Reuters Trust Principles."These six product candidates that would be used in critical care settings meaningfully expand Endo's ready-to-use injectable product pipeline," said Scott Sims, Senior Vice President and General Manager, Injectable Solutions & Generics at Endo. Purdue Pharma judge overrules DOJ to approve $6 bln opioid settlement Mallinckrodt wins approval of restructuring plan, opioid deal 22-07039.įor Endo: Abigail Davis, Paul Leake and Jason Liberi of Skadden Arps Slate Meagher & FlomĮndo files for bankruptcy as U.S. Bankruptcy Court for the Southern District of New York, No. NOTE: This story has been updated to add a comment from the Oregon Department of Justice. Endo spent $136 million on opioid litigation in 2021, and $32.7 million in the first quarter of 2022, according to its complaint. "Our position is that the automatic stay does not apply to state police power actions to protect consumers," Edmunson said.īefore filing for bankruptcy, Endo often found itself litigating dozens of opioid lawsuits at a time, and the effort has "impacted nearly every aspect" of its business, the company said. Kristina Edmunson, a spokesperson for the Oregon Department of Justice, confirmed that Oregon is proceeding with litigation against Endo despite the company's bankruptcy. Other state and local governments, including Florida and West Virginia, had previously settled their opioid claims against Endo.Ī Chapter 11 filing usually automatically protects bankrupt companies from litigation by pausing new and ongoing lawsuits, but some state and local governments have argued that the bankruptcy court's "automatic stay" does not apply to government enforcement actions, Endo said in its complaint.Īt least 36 states, as well as attorneys representing local governments in nationwide opioid multi-district litigation proceedings, have agreed to voluntarily pause their lawsuits during Endo's bankruptcy, without conceding that the "automatic stay" applies to them, Endo said.īut others, like Oregon, have told the company that they intend to proceed with litigation against Endo, and many local governments have not made their position clear, according to the complaint. 17, seeking to address its high debt load and resolve more than 3,100 lawsuits accusing the company of deceptively marketing prescription opioids like Opana by downplaying the risk of addiction.īefore filing for bankruptcy, Endo reached a $450 million settlement with more than 30 states to resolve the lawsuits, but it still faces litigation risk from state and local governments that have not agreed to participate in the settlement. bankruptcy court in Manhattan, Endo said if those lawsuits are allowed to continue, the company will not be able to focus on successfully completing its restructuring, including a comprehensive resolution of the opioid claims.Įndo filed for Chapter 11 protection on Aug. opioid epidemic must be paused during the pharmaceutical company's bankruptcy. Endo faces 3,100 lawsuits related to sale and marketing of prescription opioidsĮndo International plc sued hundreds of state and local governments on Friday, seeking a ruling that their lawsuits accusing the company of helping fuel the U.S.State and local governments have argued bankruptcy protections don't apply to their enforcement actions.Bankrupt companies are normally protected from lawsuits. ![]()
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