Drugmaker Endo International plc said on Tuesday it had agreed to pay up to $65 million to resolve claims by the state of Florida and local governments that the drugmaker helped fuel the U.S. opioid epidemic.
The deal is the latest in a string of settlements that Endo has struck in recent months to resolve similar cases, including a $63 million settlement with Texas in December.
The Florida settlement included no admission of wrongdoing, Endo said, while reiterating that its goal was to achieve a global opioid settlement.
Thousands of lawsuits have been filed seeking to hold drugmakers, drug distributors and pharmacy chains responsible for a drug abuse crisis, which the U.S. government says has led to hundreds of thousands of overdose deaths over two decades.
Endo shares rose nearly 4% to $3.40 in premarket trading.
The settlement comes less than a month after Texas officials announced a $63 million settlement with Endo. The settlement requires Endo to pay into the Texas State Qualified Settlement Fund—which will disperse funding accordingly—without a requirement of a global settlement first, a news release said.
Topics Florida
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