$465 Million Bankruptcy Settlement, Drugmaker Endo Agreed To Pay

The U.S. Department of Justice said that a $465 million bankruptcy settlement has been agreed to pay by the drugmaker Endo International, on Thursday. It’s to settle the federal government’s law enforcement, tax and healthcare cost claims.

Drugmaker Endo International (Photo: Google)

$465 Million Bankruptcy Settlement, Removes Endo’s Largest Obstacle

According to Insurance Journal, the U.S. Department of Justice said that drugmaker Endo International, at a March 19 court hearing, will ask a U.S. bankruptcy judge to approve the sale and allow the company to emerge from bankruptcy.

Reported by WHTC, Endo agreed to pay the federal government over 10 years amounting to $364.9 million with an additional $100 million as a contingent payment which depends on how well Endo performs after bankruptcy. It allows Endo to choose a lower, one-time payment of $200 million right after its exit from bankruptcy.

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Endo resolves over $7 billion in claims

With the bankruptcy settlement, Endo resolves over $7 billion in claims that the DOJ argued against the drugmaker company. DOJ claimed purported tax debts, criminal investigation into Endo’s opioid marketing and possible overpayment for Endo medications by the federal government.

According to U.S. Centers for Disease Control and Prevention, between 1991 and 2021, about 645,000 deaths were recorded due to opioid overdose. Overdose deaths remained high in 2022 and 2023.

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