JEFFERSON CITY, Mo. – Missouri Attorney General Eric Schmitt announced today that his office and a coalition of attorneys general have reached an agreement in principle with opioid maker, Endo International plc. (Endo), and its lenders that would provide up to $450 million nationwide to participating states and local governments, ban promotion of Endo’s opioids, and require Endo to turn over millions of documents related to its role in the opioid crisis for publication in a public online archive. Exact dollar amount distribution to states is still being worked out, but this settlement, like previous settlements, will bring millions of dollars to Missouri for opioid abatement, treatment, and education.
“My Office’s primary goal when reaching settlements with opioid companies like Endo has always been about fighting on behalf of the victims of opioid abuse and addiction and their families,” said Attorney General Schmitt. “This settlement, like previous settlements with Johnson & Johnson, major opioid distributors, Teva, and others, will bring critical resources to those who desperately need help with opioid addiction and abuse.”
The agreement in principle with Endo, which filed for Chapter 11 bankruptcy protection Tuesday night in the Southern District of New York, resolves allegations that Endo boosted opioid sales using deceptive marketing that downplayed the risk of addiction and overstated the benefits. Endo, an Ireland-based drugmaker with its U.S. headquarters in Malvern, Pennsylvania, makes generic and branded opioids including Percocet and Endocet, and also made Opana ER, which was withdrawn from the market in 2017. The states allege that Endo falsely promoted the benefits of Opana ER’s so-called abuse-deterrent formulation, which did nothing to deter oral abuse and led to deadly outbreaks of Hepatitis and HIV due to its widespread abuse via injection.
The resolution, which is contingent on final documentation and Bankruptcy Court approval, involves the following:
- Requires payment of $450 million in cash over 10 years to participating states and subdivisions.
- Requires Endo to turn over its opioid-related documents for publication online in a public document archive and pay $2.75 million for archival expenses.
- Bans the marketing of Endo’s opioids forever.