An opioid manufacturer and its lenders have reached an agreement with multiple states, including all of New England, to pay up to $450 million and turn over millions of documents related to its role in the opioid crisis.
Endo International plc, an Ireland-based drugmaker with its U.S. headquarters in Malvern, Penn., was accused of boosting opioid sales using deceptive marketing that downplayed the risk of addiction and overstated the benefits, New Hampshire Attorney General John Formella’s office said.
The company, which manufactures brands like Percocet and Endocet, as well as generic opioids, filed for Chapter 11 bankruptcy protection Tuesday night.
Endo also made Opana ER, which was pulled from the market in 2017. The states alleged that the company falsely promoted the benefits of the drug’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, according to Formella.
“This settlement continues our efforts over many years to hold opioid manufactures, distributors and dispensers responsible for their role in fueling the opioid crisis in New Hampshire,” Formella said in a statement. “That crisis continues to wreak havoc in our communities and results in significant numbers of drug overdoses and deaths. The funds from this settlement will be dedicated to abating the opioid crisis in our state.”
The settlement also bans the marketing of Endo’s opioids.
New Hampshire, Massachusetts and Maine led negotiations, along with Pennsylvania, Tennessee, Vermont and Virginia.
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