Malvern-Based Endo Hit with Court-Ordered Penalty for False Marketing
Malvern-based Endo Health Solutions has been ordered to pay over $1.5 billion in criminal financial penalties after the company admitted to falsely marketing Opana ER, its powerful opioid painkiller, writes Aubrey Whelan for The Philadelphia Inquirer.
The once one of the largest opioid manufacturers in the country has to pay $1.086 billion in fines and $450 million in criminal forfeiture, which together make up the second-highest court-ordered penalty against any pharmaceutical company, according to the U.S. Department of Justice.
However, Endo will end up paying much less than the ordered amount, according to the company.
Endo Health Solutions along with its corporate affiliate, Endo International PLC, filed for Chapter 11 two years ago amid thousands of lawsuits over the role it played in the opioid crisis.
In emerging from bankruptcy, the company agreed to pay $200 million to resolve its civil and criminal claims. It could pay an extra $100 million over five years to put those matters at rest.
Endo has also paid $450 million into trusts that are used to fund both state and local efforts to combat the opioid crisis.
Read more about Endo Health Solutions paying for false marketing of Opana ER in The Philadelphia Inquirer.
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