Malvern-based Endo International is officially up for bidding. A U.S. Bankruptcy Court has approved the auction, and bidding procedures can begin at $6 billion, writes John George for the Philadelphia Business Journal.  

The pharmaceutical company filed for bankruptcy protection in August. The company was facing a slew of lawsuits alleging that Endo contributed to the opioid addiction epidemic through deceptive marketing tactics.  

The sale hearing for this year is set for Aug. 31, in New York City. Bidders have a deadline to submit their interest by June 13.  

The bankruptcy filing includes an agreement that requires buyers to establish voluntary trusts that include proceeds to go towards opioid claims.  

All 2,861 employees of Endo International must also be offered employment as part of the agreement. According to the pharmaceutical company, Endo will be able to complete its sale by the end of the year.  

Read more about Malvern’s Endo International in the Philadelphia Business Journal.  

Discover Credit tells us what bankruptcy is.