Malvern-Based Endo’s Settlement in Tennessee Leaves It Lighter in the Pockets, but with a Bump in Stock

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Endo Health Solutions and Endo Pharmaceuticals — subsidiaries of Endo International, which is based in Dublin, Ireland, and has its U.S. headquarters in Malvern — have finalized and executed a settlement agreement of $35 million to resolve opioid-related litigation in Tennessee. John George covered the local implications for the Philadelphia Business Journal.

The settlement does not include an admission of wrongdoing or liability by the pharmaceutical company. Corporate messaging on that point emphasized that the settlement value “should not be extrapolated to any other opioid-related cases or claims.”

The case involved nine Tennessee counties, 18 cities, and one individual plaintiff. They are part of a much larger group throughout the country suing manufacturers of opioid pain-relief medication.

The litigation alleges that the firm played a role in the nation’s ongoing opioid epidemic through its products’ promotional activities.

In the last decade, nearly half a million people across the country have died of opioid overdoses.

Other pharmaceutical companies named as defendants in similar suits include Purdue Pharma, Mallinckrodt Pharmaceuticals, Johnson & Johnson, and Teva Pharmaceuticals.

Endo voluntarily stopped promoting its opioid products to healthcare professionals in September 2016. It has also eliminated its entire pain-product salesforce.

News of the settlement bumped up Endo’s stock by two percent.

Read more about Endo International in the Philadelphia Business Journal.

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