Drugmaker Endo strikes $63 million opioid settlement with Texas -Breaking
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© Reuters. FILE PHOTO : Texas Attorney General Ken Paxton talks to supporters of abortion outside the U.S. Supreme Court. This is after arguments regarding a Texas law which bans abortion after six week in Washington. REUTERS/Evelyn HoNate Raymond
(Reuters] -Endo International Plc will pay $63million to address claims that the state of Texas, as well as local governments, asserted that the drugmaker contributed to the U.S. epidemic. This was announced by Texas’ attorney general on Thursday.
Texas Attorney General Ken Paxton announced the deal. It was one of several settlements Endo reached in recent months to settle similar cases.
Nationally, more than 3400 lawsuits, largely filed by local and state governments, have been filed against Endo accusing it of being complicit in the drug abuse crisis through misleadingly marketing OpanaER pain medication. It no longer sells Opana ER.
Paxton stated in a statement that “this settlement is necessary in the right direction” and added, “We will continue to fight for our state to heal from this devastating crisis.”
Endo has not yet responded to our request for comment.
Many lawsuits were filed in an effort to hold drugmakers, distributors of drugs and pharmacie chains accountable for drug abuse that led to overdose deaths of hundreds of thousand over the past two decades.
Distributors of drugs McKesson Corp (NYSE :), AmerisourceBergen Corp (NYSE 🙂 and Cardinal Health Inc (NYSE:) and the drugmaker Johnson & Johnson (NYSE:) are pushing to finalize proposed settlements of up to $26 billion to resolve the cases against them.
Endo is not in the $26 Billion deal. However, Endo has previously agreed to settlements of lawsuits against states and counties in Alabama, Louisiana Louisiana, New York Ohio, Oklahoma, Tennessee, for more than $136 Million.
A California judge ruled that Endo and three others drugmakers were not liable following a trial. This was in response to a lawsuit brought by large California counties who claimed they had fuelled the opioid crisis. They failed to prove their case worth $50 billion.
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