TPG Sued for $4.5 Billion by Endo Trustee Over Par Pharma Sale

Private equity giant TPG Capital should pay $4.5 billion to Endo International Plc unsecured creditors for its “profiteering” sale of Par Pharmaceutical Holdings Inc. to the company and helping fuel the opioid epidemic, a bankruptcy plan trustee said.

TPG’s May 2015 sale of generic opioid maker Par to Endo, the maker of pain drugs like Opana and Percocet, for $8.05 billion loaded Endo up with a “mountain of further opioid liabilities” as nationwide scrutiny over such sales increased, according to a complaint filed Aug. 16 in the US Bankruptcy Court for the Southern District of New York.

Trustee Matthew Dundon, ...