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Endo Files for Bankruptcy Over Debt, US Opioid Litigation (1)

Aug. 17, 2022, 3:27 AM

Drug manufacturer Endo International Plc filed for bankruptcy after being overwhelmed by litigation, including claims that it profited by helping fuel the US opioid epidemic.

The Dublin-based company said it had initiated voluntary Chapter 11 proceedings in the US Bankruptcy Court for the Southern District of New York. It also struck an agreement with a debt-holder group that is offering $6 billion for Endo’s assets and would take over certain liabilities.

“By definitively addressing the more than $8 billion of debt that has burdened our balance sheet and establishing a pathway to closure with respect to the thousands of opioid-related ...