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Endo Int'l Inks Statewide Settlement Deal To Resolve Opioid Claims In Florida - Quick Facts

Endo International plc (ENDP) announced Tuesday that it and its wholly-owned subsidiaries Endo Pharmaceuticals Inc. and Endo Health Solutions Inc. have entered into a statewide settlement agreement intended to resolve all government-related opioid claims in Florida.

The settlement, which is subject to certain conditions and contingencies, provides a framework through which Endo and its subsidiaries can fully and finally resolve the opioid-related claims of Florida and its subdivisions in exchange for a total payment of up to $65 million.

The Florida settlement includes no admission of wrongdoing, fault or liability of any kind by Endo or its subsidiaries and resolves, among other things, claims against Endo's subsidiaries which were set for trial in Florida state court in April 2022. The settlement value should not be extrapolated to any other opioid-related cases or claims.

The Company is continuing to litigate opioid claims not covered by its settlements and to pursue settlements that it believes are in its best interests while remaining focused on its primary goal of achieving a global settlement.

At the same time, Endo is 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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