Endo To Pay $50 Mln To Settle Opioid Claims By New York State And Its Counties

Endo International plc (ENDP) said that it has agreed to pay $50 million to settle lawsuits by New York state, Suffolk and Nassau counties, related to marketing and sale of prescription opioid medications.

ENDP closed Thursday regular trading at $2.10, down $0.01 or 0.47%. But in the after-hours trade, the stock gained $0.38 or 18.10%.

As a result of the settlement, Endo have been severed from an ongoing trial in lawsuits by the New York state and the two counties.

Endo noted that the settlement includes no admission of wrongdoing, fault or liability of any kind by Endo or its subsidiaries, and the settlement value should not be extrapolated to any other opioid-related cases or claims.

Endo noted that litigation of the remaining opioid claims is ongoing, but the company is focused on its primary goal of achieving a global settlement.

Endo is also currently exploring other strategic alternatives and may seek to implement one or more of those alternatives in the event it is unable to achieve a global settlement.

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