By Ben Glickman
Endo Health Solutions was ordered to pay over $1.5 billion to resolve its criminal case related to its role in the opioid epidemic.
Officials said the case marked the second-largest criminal penalties ever levied against a pharmaceutical company. The largest penalties came in the case of Purdue Pharma, which agreed to pay more than $5 billion in a criminal case connected to the opioid crisis.
The Justice Department said that opioid manufacturer Endo had pleaded guilty to one misdemeanor count on selling misbranded drugs. The company admitted that certain sales representatives touted supposed safety characteristics of its opioid Opana, which weren't supported by clinical data.
Endo will pay $1.09 billion in criminal fines and $450 million in criminal forfeiture.
Endo initially agreed to resolve the criminal and civil investigations related to its opioid drug in February.
The company also reached an agreement in its bankruptcy case to settle monetary claims rising from criminal and civil settlements. Under that deal, the government will receive up to $464.9 million over 10 years.
Endo Health Solutions won't emerge from bankruptcy, though its corporate affiliates exited Chapter 11 proceedings April 23.
The Justice Department said it was crediting up to $450 million in payments under the company's bankruptcy plan against the forfeiture amount.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
05-03-24 1331ET
