Endo Pharmaceuticals Agrees to Pay Texas $ 63 Million in Latest Opioid Settlement | Texas
(The Center Square) – Endo Pharmaceuticals, Inc. has agreed to pay Texas $ 63 million in statewide opioid settlement, another in a series of settlements won this year by Texas Attorney General Ken Paxton.
This summer, Paxton reached the largest opioid settlement in U.S. history after years of negotiations with three of the nation’s largest pharmaceutical distributors.
Texas’ $ 26 billion global prescription opioid dispute resolution agreement was the first of its kind in the country and will fund a range of programs to help Texans struggling with opioid addiction. Opioids are a family of drugs that include prescription pain relievers like hydrocodone, oxycodone, and morphine, and street drugs like heroin.
Endo’s agreement follows the terms of the global settlement although it is not a party to the original agreement. Under the terms of its settlement agreement, Endo will contribute $ 63 million to the Texas Qualified Settlement Fund, regardless of the date the Comprehensive Settlement Agreement is finalized, and without any discount or reduction in the payment amount. .
“This regulation is the result of my office’s hard work to hold opioid manufacturers accountable for their deceptive marketing of highly addictive pain relievers, which sparked an epidemic and left victims and families with unimaginable consequences,” said Paxton. “This settlement is a necessary step in the right direction, and we will continue to fight to heal our state from this devastating crisis. “
A comprehensive Texas $ 26 billion settlement has been reached with pharmaceutical distributors Cardinal, McKesson and AmerisourceBergen, and with pharmaceutical giant Johnson & Johnson, which manufactures and markets opioids.
In total, Texas is expected to receive $ 1.2 billion from Cardinal Health, McKesson and AmerisourceBergen. Much of the money will go to statewide opioid reduction efforts, involving the participation of cities, counties and other political subdivisions.
In October, Paxton’s office reached a $ 297 million settlement with Johnson & Johnson and its US-based Janssen pharmaceutical companies as part of the comprehensive settlement agreement.
In February, Paxton’s office struck a $ 38.4 million deal with McKinsey for its role in providing advisory services to opioid companies. He has been accused of selling marketing plans, programs and advice to OxyContin maker Purdue Pharma for over 15 years.
The deals came after Texas sued Purdue Pharma in 2018 for allegedly breaking state laws prohibiting deceptive marketing practices. Purdue Pharma has been accused of misrepresenting the risk of addiction to its pain relievers, including OxyContin, to patients and doctors.
Paxton called the settlements “monumental,” saying they “will provide much needed funding to Texans who have fallen victim to the irresponsible and deceptive marketing practices of opioid makers that have fueled” the opioid epidemic.
Texas saw a 33% increase in accidental drug overdose deaths last year. According to a recent report released by the CDC, 4,751 Texans died from overdoses from May 2020 to May 2021, compared to 3,551 deaths from drug overdoses during the same period the previous year.