Massachusetts
Endo files for bankruptcy as U.S. opioid litigation drags
/cloudfront-us-east-2.images.arcpublishing.com/reuters/YZIXELKEJBKDZMKYEJVL7QDTAU.jpg "Endo files for bankruptcy as U.S. opioid litigation drags")
Aug 16 (Reuters) – Endo Worldwide Plc (ENDP.O) filed for chapter on Tuesday after reaching a $6 billion take care of a few of its collectors, because the U.S. drugmaker seeks to settle hundreds of lawsuits over its alleged position within the nation’s opioid epidemic.
The pharmaceutical firm is the most recent to file for Chapter 11 to handle opioid claims. Purdue Pharma, the maker of OxyContin, filed in September 2019, whereas Mallinckrodt Plc, a generic opioid producer, lately emerged from chapter.
“By definitively addressing the greater than $8 billion of debt that has burdened our stability sheet and establishing a pathway to closure with respect to the hundreds of opioid-related and different lawsuits that the corporate has been defending at an unsustainable value, we will transfer ahead…,” Endo’s Chief Govt Officer Blaise Coleman mentioned in an announcement.
The corporate’s Chapter 11 chapter submitting within the Southern District of New York confirmed property and liabilities within the vary of $1 billion to $10 billion.
The collectors, who may even assume among the firm’s liabilities, will considerably management all of its property, Endo mentioned.
The corporate additionally reached a take care of U.S. state attorneys basic to offer $450 million over a interval of 10 years, resolving allegations that the corporate boosted opioid gross sales utilizing misleading advertising and marketing, and bans the advertising and marketing of its opioids without end, in line with the workplace of Massachusetts AG.
Collectors may even set up voluntary trusts with $550 million to be funded over 10 years to settle the opioid claims, the corporate mentioned.
Endo has been discussing the potential of submitting for chapter safety in a number of latest filings. learn extra
In June, the drugmaker missed a $38 million curiosity fee, amid discussions with a bunch of unsecured bondholders who had urged the corporate to keep away from submitting for chapter.
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Reporting by Jahnavi Nidumolu and Shubham Kalia in Bengaluru; Modifying by Neha Arora, Rashmi Aich and Sriraj Kalluvila
Our Requirements: The Thomson Reuters Belief Ideas.
A person was flown to the hospital after being seriously injured in an incident on Route 6 in Harwich, Massachusetts, Sunday night.
According to the Harwich Fire Department, Massachusetts State Police notified the Barnstable County Sheriff’s Office Communications Center around 8:15 p.m. about a report of a person who fell out of a vehicle near mile marker 82.
First responders raced to Route 6, and Boston MedFlight was requested to transport the injured party, officials said.
No other details have been released regarding what happened.
A lucky Massachusetts State Lottery player bought a winning Powerball ticket worth $50,000 at a Westfield variety store on Saturday.
The ticket was sold at New Corner Variety Store on Crown Street.
Saturday night’s winning numbers were 7, 34, 40, 42 and 52, and the Powerball number was 15.
In Powerball, players select five numbers between 1 and 69 and one Powerball number between 1 and 26. They then choose how many drawings they want to use those numbers for.
Players that match all five numbers and the Powerball number win the jackpot. They have 1 in 292,201,338 chances of winning this way.
Players that match four numbers and the Powerball number win $50,000. They have 1 in 913,129.18 chances of winning this way.
- Read more: Two winning $100,000 Mass Cash tickets sold at convenience stores
Powerball drawings take place every Monday, Wednesday and Saturday at 10:59 p.m. The jackpot stands at $134 million as of Sunday.
Overall, at least 249 prizes worth $600 or more were won or claimed in Massachusetts on Saturday, including four in Springfield, four in Worcester and 21 in Boston.
The Massachusetts State Lottery releases a full list of winning tickets every day. The list only includes winning tickets worth more than $600.
The two largest lottery prizes won so far in 2025 were each worth $15 million. One of the prizes was from a winning “Diamond Deluxe” scratch ticket sold in Holyoke, and the other was from a “300X” scratch ticket sold on Cape Cod.
Massachusetts
Massachusetts pensions: What’s the pension status of convicted Mass State Police troopers?
Massachusetts pensions: What’s the pension status of convicted Mass State Police troopers?
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