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
Was this article valuable?
Here are more articles you may enjoy.
PHLY Makes Largest Acquisition in Its History With Collector Car Business Expansion 
Lemonade Books Q3 Net Loss of $37.5 Million 
Allstate More Than Triples Q3 Net Income to $3.7 Billion 
Reinsurers Hold Bulk of Jamaica’s Property Exposures From Hurricane Melissa: Reports 
