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Drugmaker Endo signs $65 million opioid settlement with Florida -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Hydrocodone, an opioid-based painkiller, was purchased at a Portsmouth pharmacy on June 21, 2017. REUTERS/Bryan Woolston/File Photograph

(Reuters) – Endo International, a drugmaker (NASDAQ:) plc announced Tuesday that it would pay $65 million in settlements to settle claims made by Florida’s state and local governments regarding the fact that Endo International helped to fuel the U.S. Opioid epidemic.

This is just the latest of a series of deals Endo has made in recent months in order to settle similar cases. In December, Endo reached a $63 Million settlement with Texas.

Endo stated that the Florida settlement did not admit to wrongdoing and reiterated its aim of reaching a global opioid settlement.

There have been thousands of lawsuits filed to hold drugmakers and drug distributors, as well as pharmacy chains, responsible for the drug abuse crisis that has resulted in hundreds of thousands overdose deaths.

Endo shares rose almost 4% to $3.40 during premarket trades

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