Health
Bankrupt Drugmaker Endo Wins Approval on Opioid Settlements, Restructuring
- Endo won bankruptcy court approval on its Chapter 11 exit plan
- Deal resolves opioids suits and cuts $5.5 billion in debt
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Bankrupt drugmaker Endo International won court approval on a Chapter 11 exit plan that cuts debt, settles government claims and resolves thousands of lawsuits accusing the company of helping fuel the US opioid epidemic.
Judge James L. Garrity Jr. said Tuesday he’ll approve Endo’s restructuring plan and related opioid pacts, a ruling that will effectively end the company’s bankruptcy, which began in August 2022. Endo will be taken over by its lenders and said in December it anticipates exiting Chapter 11 in the second quarter of 2024.