Endo Files for Bankruptcy to Address Opioid-Related and Other Lawsuits

Endo International has filed for Chapter 11 bankruptcy and said it is taking steps to address the more than $8 billion in debt it has accumulated because of opioid-related and other lawsuits.

The company said that the cost of defending itself against the thousands of opioid lawsuits is unsustainable.

Although Endo hopes to emerge from bankruptcy to continue trading, it will have to contend with a permanent legal ban on marketing its opioids in several states.

Endo reached opioid settlement agreements with several states that will cost the company $450 million in cash over 10 years.