Endo filed for bankruptcy, lenders to take control Reuters-Endo International Plc filed for bankruptcy protection on Tuesday that will allow some of the US drugmaker's banks to take control of a $6 billion deal, after the company struggled with litigation over its alleged role in the country's opioid epidemic.
The bankruptcy filing by the company in the Southern District of New York showed assets and liabilities from $1 billion to $10 billion.
According to the office of Massachusetts AG, Endo reached a deal with U.S. state attorneys general to provide $450 million over a period of 10 years.
The company has been talking about the possibility of filing for bankruptcy protection in several recent filings.
In June, the drugmaker missed a $38 million interest payment due to discussions with unsecured bondholders who had urged the company not to file for bankruptcy.
The attorneys general of Arizona, Colorado, Illinois, Indiana, Michigan and Minnesota, among others, are part of Tuesday's settlement.