Bankrupt drugmaker Endo International said on Wednesday the federal government's opposition to its bankruptcy sale threatened to undo nearly $600 million in settlements reached with states and people afflicted by the U.S. opioid crisis.
in August 2022, seeking to address its $8 billion debt load and to settle thousands of lawsuits over allegations of its role in the opioid epidemic.
Those lenders have agreed to fund the opioid settlements that Endo reached as it entered bankruptcy, committing $465 million to U.S. states, $119.7 million to people affected by opioid addiction, and $11.5 million to a trust for future opioid claimants, according to Endo's court filings. The U.S. government has asserted over $7 billion in claims against Endo for purported tax debts, a DOJ criminal investigation into Endo's opioid marketing, and the federal government's possible overpayment for Endo medications.
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