Endo International settled federal civil and criminal charges over the company’s marketing and sale of opioids, agreeing to pay up to $465 million over several years, WSJ Pro Bankruptcy reported. The settlement with the U.S. government would clear the last major hurdle the Malvern, Pa.-based company needs to overcome to clinch a restructuring plan that would hand ownership of the company to its lenders. The agreement is subject to approval by the U.S. Bankruptcy Court in New York. Endo filed for bankruptcy in 2022 under the weight of thousands of lawsuits from state and local governments and others over its sale and marketing of painkiller Opana ER. Under the settlement, Endo can pay $200 million when it wraps up its bankruptcy case or make installment payments totaling $365 million over 10 years, according to an announcement by the U.S. Attorney’s Office in New York. Additionally, the company must make payments tied to its financial performance totaling up to $100 million between 2024 and 2028. As part of the settlement, Endo also agreed to plead guilty in federal court in Michigan to a misdemeanor count tied to misbranding Opana ER, according to the announcement. The settlement payments of up to $465 million resolve $1.5 billion in a criminal fine and a civil claim stemming from the marketing and sale of opioids as well as a payment obligation to the Internal Revenue Service.
