Connecticut Attorney General William Tong has reached an agreement with Irish opioid manufacturer Endo International PLC and its lenders.
The agreement requires:
• Payment of $450 million over 10 years to states and local governments involved in the lawsuit.
• Endo to turn over its opioid-related documents for online publication in a public document archive and pay $2.75 million for archival expenses.
• A permanent ban on marketing of Endo’s opioids.
Endo, which filed for bankruptcy in New York on Tuesday, had U.S. headquarters in Malvern, Pennsylvania.
Negotiations were led by seven states: Maine, Massachusetts, New Hampshire, Pennsylvania, Tennessee, Vermont, and Virginia. Thirty-six states and territories, including Connecticut, will share the settlement to support addiction treatment and prevention.
“Endo falsely peddled its opioids as abuse-deterrent with deadly consequences. They downplayed risks, overpromoted benefits and reaped profits while people suffered and died,” Tong said. “One by one, we are taking on every player in the addiction industry and holding them accountable for the lives they destroyed.”
