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

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 ...