Endo International Inc. (ENDP) stock gains during after-hour trading session. Here’s to know why?

Endo International Inc. (NASDAQ: ENDP) stock fell by 0.47% at the last close whereas the ENDP stock price rises by 17.62% in the after-hours trading session. Endo is a specialized pharmaceutical firm dedicated to helping people live their best lives by providing high-quality, life-improving treatments.

Their decades of success can be attributed to a global team of dedicated individuals working together to develop the most effective medicines. Together, they take risks to turn discoveries into therapies that help those who need them, whenever they need them.

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ENDP stock’ Current Update

Endo International and its entirely owned companies, Endo Health Solutions Inc., Endo Pharmaceuticals Inc., Par Pharmaceutical, Inc., and Par Pharmaceutical Companies, Inc., confirmed recently that they have negotiated three consolidated claims pending in Suffolk County Supreme Court in New York. The details are mentioned below:

  • County of Suffolk v. Purdue Pharma L.P. et al., Case No. 400001/2017.
  • County of Nassau v. Purdue Pharma L.P. et al., Case No. 400008/2017.
  • The State of New York v. Purdue Pharma L.P. et al., Case No. 400016/2018.

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In the preceding cases, the plaintiffs asserted a variety of allegations linked to the defendants’ marketing and sale of prescribed opioid prescriptions, as well as alleged failures to recognize and report suspicious orders. Since June 2021, a jury trial on liability has been continuing.

Furthermore,

Endo’s subsidiaries have been removed from the trial as an outcome of the settlement. In return for a total payment of $50 million, the settlement fully and totally settles all asserted claims. Endo or its subsidiaries make no admissions of wrongdoing, negligence, or obligation, and the settlement amount should not be extended to any other opioid-related cases or claims.

While the other opioid claims are still being litigated, Endo is concentrating on its core goal of reaching a global settlement. Endo is also looking into additional strategic options and may pursue one or more of them if it is unable to reach a global agreement. Endo is unable to predict the likelihood, nature, or timing of any given consequence.

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