State and opioid maker sign $450 million settlement agreement | News, Sports, Jobs

HARRISBURG — The Pennsylvania Attorney General’s office has reached a tentative agreement with opioid maker Endo International and its lenders to provide up to $450 million to participating states and local governments, ban the promotion of opioids from Endo and demand that Endo turn over millions of documents related to its role in the opioid crisis.

“Every company that has fueled this deadly epidemic will answer for its reckless actions,” AG Josh Shapiro said in a statement. “Endo minimized the risk of addiction, going so far as to market one of their opioids as having an abuse deterrent formula, when in reality the product did nothing to deter abuse. lives lost to this crisis, but the agreement (on Wednesday) will help ensure that we can fund the programs communities in Pennsylvania need to recover from this crisis.

The tentative settlement with Endo, which filed for Chapter 11 bankruptcy Monday night in the Southern District of New York, stems from allegations that Endo boosted opioid sales by using marketing misleading that minimized the risk of addiction and exaggerated the benefits of opioids.

Endo has its US headquarters in Malvern and manufactures generic and branded opioids, including Percocet and Endocet, as well as Opana ER, which was taken off the market in 2017.

This agreement is the result of a multi-state investigation of six manufacturers and three distributors for their role in the opioid epidemic. This investigation led, including this settlement, to $40.85 billion in settlements with manufacturers and distributors of opioids.

Negotiations for this settlement were led by Pennsylvania with Maine, Massachusetts, New Hampshire, Tennessee, Vermont, and Virginia.

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