DUBLIN, July 1, 2022 /PRNewswire/ -- Endo International
plc (NASDAQ: ENDP) announced today that a federal jury in
Chicago, Illinois, has returned a
verdict in favor of the Company's subsidiaries Endo Pharmaceuticals
Inc. and Endo Health Solutions Inc. (collectively Endo), in an
antitrust trial.
As Endo previously disclosed, it has been involved since 2014 in
various legal proceedings filed by multiple plaintiffs, including
classes of direct and indirect purchasers, which have been
consolidated in the United States
District Court for the Northern District of Illinois under the caption In re Opana® ER
Antitrust Litigation. Plaintiffs in the cases alleged,
among other things, that the terms of a 2010 patent settlement
agreement between Endo and Impax Laboratories, Inc. (now Amneal
Pharmaceuticals, Inc.) (Impax) violated the antitrust laws. A
trial of all plaintiffs' claims began in June and concluded today
with a verdict in favor of Endo on all counts.
"Endo is very pleased with the jury's verdict and is grateful
for its careful deliberation," said Matthew
J. Maletta, Endo's Executive Vice President, Chief Legal
Officer and Company Secretary. "Today's verdict confirms that the
2010 settlement agreement between Endo and Impax was procompetitive
and enabled Impax to come to market with its generic version of
Opana® ER years earlier than otherwise would have been permitted."
About Endo
Endo (NASDAQ: ENDP) is a specialty pharmaceutical company
committed to helping everyone we serve live their best life through
the delivery of quality, life-enhancing therapies. Our decades of
proven success come from passionate team members around the globe
collaborating to bring the best treatments forward. Together, we
boldly transform insights into treatments benefiting those who need
them when they need them. Learn more at www.endo.com or connect
with us on LinkedIn.
Forward-Looking Statements
Certain information in this press release may be considered
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 and any applicable
Canadian securities legislation including, but not limited to, the
statements by Mr. Maletta and any statements relating to the status
or outcome of litigation. Statements including words or phrases
such as "believe," "expect," "anticipate," "intend," "estimate,"
"plan," "will," "may," "look forward," "intend," "future,"
"potential" or similar expressions are forward-looking statements.
All forward-looking statements in this press release reflect Endo's
current expectations of future events based on existing trends and
information and represent Endo's judgment only as of the date of
this press release. Actual results may differ materially and
adversely from current expectations based on a number of factors
affecting Endo's businesses, including, among other things, the
following: the outcome of our strategic review, contingency
planning and any potential restructuring; the timing, impact or
results of any pending or future litigation, investigations,
proceedings or claims, including opioid, tax and antitrust matters;
actual or contingent liabilities; settlement discussions or
negotiations; the impact of competition including loss of
exclusivity and generic competition; our ability to satisfy
judgments or settlements or to pursue appeals including bonding
requirements; our ability to adjust to changing market conditions;
our inability to maintain compliance with financial covenants and
operating obligations which would expose us to potential events of
default under our outstanding indebtedness; our ability to incur
additional debt or refinance our outstanding indebtedness; and a
significant reduction in our short-term or long-term revenues which
could cause us to be unable to fund our operations and liquidity
needs. The occurrence or possibility of any such result has caused
us to engage, and may result in further engagement, in strategic
reviews that ultimately may result in our pursuing one or more
significant corporate transactions or other remedial measures,
including on a preventative or proactive basis. Those remedial
measures could include a potential corporate reorganization,
restructuring or bankruptcy filing involving all or a portion of
our business, asset sales or other divestitures, cost-saving
initiatives, corporate realignments or strategic partnerships. Some
of these measures could take significant time to implement and
others may require judicial or other third-party approval. Any such
actions may be complex, could entail significant costs and charges
or could otherwise negatively impact shareholder value, and there
can be no assurance that we will be able to accomplish any of these
alternatives on terms acceptable to us, or at all, or that they
will result in their intended benefits. Therefore, the reader is
cautioned not to rely on any forward-looking statements. Endo
expressly disclaims any intent or obligation to update these
forward-looking statements, except as required to do so by law.
Additional information concerning risk factors, including those
referenced above, can be found in press releases issued by Endo, as
well as Endo's public periodic filings with the U.S. Securities and
Exchange Commission and with securities regulators in Canada, including the discussion under the
heading "Risk Factors" in Endo's most recent Annual Report on Form
10-K and any subsequent Quarterly Reports on Form 10-Q or other
filings with the U.S. Securities and Exchange Commission.
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