Drugmaker Endo receives US court approval for bankruptcy restructuring

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As part of the bankruptcy plan, over 95% of the company's ownership will be handed over to its lender group, which includes investment firms Oaktree Capital ...

FILE PHOTO: Signage is seen at the United States Bankruptcy Court for the Southern District of New York in Manhattan, New York City - Bankrupt drugmaker Endo International said on Tuesday a U.S. Bankruptcy Court has approved its restructuring plan and related opioid settlements to emerge from bankruptcy, which began in 2022.

The company has, as part of the bankruptcy restructuring, agreed to pay about $600 million in settlements to states and people afflicted by the opioid crisis and to stop promoting opioids to prescribers. The U.S. opioid epidemic has caused more than a half million overdose deaths over more than two decades, with fentanyl and synthetic versions a major culprit in recent years, according to government data.

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