Opioid Lawsuits Contribute to Endo International Filing for Chapter 11 -- ESG Insight

Dow Jones2022-08-17

Commentary by Christian Brunnstrom, research analyst, ESG & impact investing

Endo International filed for chapter 11 bankruptcy protection Tuesday, amid more than $8 billion in debt, competition from generic manufacturers and opioid litigation. The Irish drugmaker's social reputation has been damaged by thousands of lawsuits alleging that it helped fuel the opioid crisis in the U.S. More than 500,000 people have died as a result of the epidemic since 1999, according to federal data. While Endo has settled some of the lawsuits, it still faces about 3,500 lawsuits from state and local governments, private healthcare providers and individuals, according to company filings. The company's president and chief executive said Tuesday that the chapter 11 filing provides the means to close the opioid lawsuits in a cost-sustainable way, including setting up $550 million in trusts to pay out opioid plaintiffs over 10 years. In 2017, the U.S. Food and Drug Administration requested that Endo stop selling its opioid painkiller Opana, saying that its benefits no longer outweighed its risks, citing the public-health consequences of abuse.

Write to Christian Brunnstrom at christian.brunnstrom@wsj.com

ESG Insights are written by The Wall Street Journal's ESG research analysts, whose commentary is independent of the news coverage by reporters at the Journal.

$(END)$ Dow Jones Newswires

August 17, 2022 10:24 ET (14:24 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2260841959?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2022-08-17 22:24","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2260841959","market":"us","top_or_hot":-1,"title":"Opioid Lawsuits Contribute to Endo International Filing for Chapter 11 -- ESG Insight","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  Commentary by Christian Brunnstrom, research analyst, ESG &amp; impact investing \n</p>\n<pre>\n \n</pre>\n<p>\n  Endo International filed for chapter 11 bankruptcy protection Tuesday, amid more than $8 billion in debt, competition from generic manufacturers and opioid litigation. The Irish drugmaker's social reputation has been damaged by thousands of lawsuits alleging that it helped fuel the opioid crisis in the U.S. More than 500,000 people have died as a result of the epidemic since 1999, according to federal data. While Endo has settled some of the lawsuits, it still faces about 3,500 lawsuits from state and local governments, private healthcare providers and individuals, according to company filings. The company's president and chief executive said Tuesday that the chapter 11 filing provides the means to close the opioid lawsuits in a cost-sustainable way, including setting up $550 million in trusts to pay out opioid plaintiffs over 10 years. In 2017, the U.S. Food and Drug Administration requested that Endo stop selling its opioid painkiller Opana, saying that its benefits no longer outweighed its risks, citing the public-health consequences of abuse. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Christian Brunnstrom at christian.brunnstrom@wsj.com \n</p>\n<pre>\n \n \n \n</pre>\n<p>\n  ESG Insights are written by The Wall Street Journal's ESG research analysts, whose commentary is independent of the news coverage by reporters at the Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  August 17, 2022 10:24 ET (14:24 GMT)\n</p>\n<p>\n  Copyright (c) 2022 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Opioid Lawsuits Contribute to Endo International Filing for Chapter 11 -- ESG Insight</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOpioid Lawsuits Contribute to Endo International Filing for Chapter 11 -- ESG Insight\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-17 22:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Commentary by Christian Brunnstrom, research analyst, ESG & impact investing \n\n\n \n\n\n  Endo International filed for chapter 11 bankruptcy protection Tuesday, amid more than $8 billion in debt, ...</p>\n\n<a href=\"http://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4007","symbol_name":"制药","start_time":0,"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2260841959","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2260841959","pubTimestamp":1660746240,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Commentary by Christian Brunnstrom, research analyst, ESG & impact investing \n\n\n \n\n\n  Endo Internati","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4007":"制药","BK4557":"大麻股"},"translate_title":"阿片类药物诉讼有助于Endo国际申请第11章--ESG洞察","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"END":1,"ENDP":0.9},"content_text":"Commentary by Christian Brunnstrom, research analyst, ESG & impact investing \n\n\n \n\n\n  Endo International filed for chapter 11 bankruptcy protection Tuesday, amid more than $8 billion in debt, competition from generic manufacturers and opioid litigation. The Irish drugmaker's social reputation has been damaged by thousands of lawsuits alleging that it helped fuel the opioid crisis in the U.S. More than 500,000 people have died as a result of the epidemic since 1999, according to federal data. While Endo has settled some of the lawsuits, it still faces about 3,500 lawsuits from state and local governments, private healthcare providers and individuals, according to company filings. The company's president and chief executive said Tuesday that the chapter 11 filing provides the means to close the opioid lawsuits in a cost-sustainable way, including setting up $550 million in trusts to pay out opioid plaintiffs over 10 years. In 2017, the U.S. Food and Drug Administration requested that Endo stop selling its opioid painkiller Opana, saying that its benefits no longer outweighed its risks, citing the public-health consequences of abuse. \n\n\n \n\n\n  Write to Christian Brunnstrom at christian.brunnstrom@wsj.com \n\n\n \n \n \n\n\n  ESG Insights are written by The Wall Street Journal's ESG research analysts, whose commentary is independent of the news coverage by reporters at the Journal. \n\n\n \n\n\n$(END)$ Dow Jones Newswires\n\n\n  August 17, 2022 10:24 ET (14:24 GMT)\n\n\n  Copyright (c) 2022 Dow Jones & Company, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2260841959"}