In the News: Endo Pharmaceuticals Agrees to $50M Settlement With New York State, Suffolk and Nassau Counties

Thursday, Sept. 9, marked a major breakthrough in the New York State opioid trial as defendant Endo International Pharmaceuticals and its subsidiaries settled with New York State and Suffolk and Nassau Counties for $50 million.

The settlement marks the conclusion of a series of recent events in which state and county representatives, including State Attorney General Letitia James, accused Endo of withholding “damning evidence” regarding its marketing and sales of prescription opioids from the discovery phase of the trial.

Endo had been held in contempt of court in an opioid trial in Tennessee for withholding similar information from the discovery phase. In its settlement with the state and counties, Endo and its subsidiaries, including Par Pharmaceutical, have been severed from the trial.

Suffolk and Nassau Counties will each receive $13.85 million in combined settlements from Endo and its subsidiary Par Pharmaceutical, Inc. A total of $22.3 million is earmarked for the New York State Attorney General’s Office, which will then be distributed in resources across the state to help combat the ongoing opioid crisis.

The settlement with Endo follows recent settlements with McKesson Corporation, Cardinal Health Inc., AmerisourceBergen Drug Corporation, Walmart Inc., Rite Aid Corp, CVS Health Corp and Johnson & Johnson — bringing a total of more than $1 billion in recovered funds for New York State.

Speaking with reporters outside Touro College’s law school auditorium, Simmons Hanly Conroy Shareholder Jayne Conroy, who is lead counsel for Suffolk County and co-lead counsel in the national prescription opioid MDL, said:

“Securing meaningful settlements with Endo and Par is another massive victory for Suffolk County and its residents, who have spent decades dealing with the impact and subsequent fallout of the opioid crisis. This agreement ensures funding will be made available for critical abatement programs in a more expedited fashion. While we are pleased with this result and what it means for the communities in Suffolk County, we are still focused on the remaining defendants in this crucially important trial.”

“This groundbreaking trial continues to deliver results for the people of Nassau County as we continue to hold those responsible for the opioid epidemic accountable,” said Hunter Shkolnik, lead counsel for Nassau County. “This result is a victory for everyone as it ensures resources will be delivered to communities in need without having to deal with the potential for bankruptcy proceedings.”

The New York State trial is expected to continue into October with remaining defendants Allergan Finance (a subsidiary of AbbVie Inc.), Teva Pharmaceutical Industries Ltd. and Anda, Inc.

Week Five Coverage:

Friday, 9/10/21

Thursday, 9/9/21

 

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