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Endo files for bankruptcy as U.S. opioid litigation drags

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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.

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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.

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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

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Massachusetts

We asked, you answered: Your favorite hot chocolate spots in Massachusetts

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We asked, you answered: Your favorite hot chocolate spots in Massachusetts


A cup of cocoa is a sweet treat and hand warmer all in one. And on a cold day in Boston — especially amid the holiday season — there’s nothing better to accompany you through the streets.

We asked WBUR readers and listeners where they like to grab a cup of hot chocolate. (We asked WBUR staffers, too, and you can find out their responses by signing up for one of our newsletters with this link before Dec. 31.)

Responses included chocolatiers, bakeries and cafes in Boston and far beyond it. But there was one clear fan favorite. Here are your top spots, plus a few honorable mentions.

Dark hot chocolate from L.A. Burdick in Harvard Square. (Dina Rudick/The Boston Globe via Getty Images)

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Your top favorites

L.A. Burdick

Boston, Cambridge and Brookline

More than 50% of respondents said L.A. Burdick was their favorite place to grab hot chocolate in the area. L.A. Burdick’s thick, rich hot chocolate is made with milk and blended with dark, milk, white or spicy dark chocolate. Readers say it’s a decadent, European-style drinking chocolate, almost like drinking a melted chocolate bar.

“The cocoa is of incredibly high quality, and they make it with whole milk, which is very rich and creamy,” said Emily Bono . “They have their own cocoa blends, which are great, but also a variety of single source options that illustrate just how diverse chocolate can be.”

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“In addition to tasting like heaven, we once put a leftover half-cup in the refrigerator overnight, and the next morning it had set into excellent chocolate pudding,” Lori Gayle shared.

Flour Bakery

Ten locations across Boston and Cambridge

Readers say they love the sweet, velvety hot chocolate at Flour Bakery. You can grab a cup of this cocoa all over Boston and Cambridge (they’ll even be popping up on the Common this summer). And for 50 cents extra, Flour will make your hot chocolate “fiery” with a dash of cayenne pepper.

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“The cayenne and chocolate combination is rich, creamy, not too sweet and just a little addictive,” Kalli Catcott shared.

Kakawa Chocolate House

173 Essex St, Salem

Kakawa Chocolate House’s Salem shop is its first and only location in New England. (They’ve got three others in New Mexico.) Cori B. says their authentic sipping chocolate comes with a variety of spices you can add, like cinnamon, ginger, mint and cayenne. Dominique Hayes added that the “wonderful variety” is “all very yummy.”

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Sweetie’s in Roslindale

48 Corinth St., Roslindale

Sweetie’s primarily sells ice cream, but you might want to visit for the hot chocolate, too. Kris Liberman shared its “rich and cream, with a choice of toppings.” There are also dairy and non-dairy options for your drink, and Leah Boylan says Sweetie’s offers imaginative cocoa flavors (think tahini dark chocolate) and tasty add-ins, like flame-broiled marshmallows, ice cream and whipped cream.

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Other honorable mentions…



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State police say Friday’s storm caused 200 crashes across Massachusetts

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State police say Friday’s storm caused 200 crashes across Massachusetts


State police say Friday’s storm caused 200 crashes across Massachusetts – CBS Boston

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State Police say they responded to 200 crashes on Friday across Massachusetts due to the snowstorm.

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Dangerousness hearing held for Taunton man in Fall River after Massachusetts, Rhode Island State Police make trafficking arrest involving Bristol, Plymouth, RI counties

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Dangerousness hearing held for Taunton man in Fall River after Massachusetts, Rhode Island State Police make trafficking arrest involving Bristol, Plymouth, RI counties


A dangerousness hearing was held Friday for a Bristol County man after a drug trafficking investigation led to his arrest.

According to Massachusetts State Police, during May and June of this year, members of the Commonwealth Interstate Narcotics Reduction Enforcement Team – South initiated an investigation into narcotics trafficking. Intelligence revealed that 33-year-old Jason Hodo of Taunton was distributing trafficking quantities of fentanyl and cocaine in Rhode Island and throughout Plymouth and Bristol Counties in Massachusetts. Investigators completed extensive traditional and covert surveillance, record checks, and intelligence analysis. The investigation led to warrants being sought and granted to search for all controlled substances at all locations related to Hodo.

In June, executing officers followed Hodo in his vehicle after he departed the Rhode Island location and drove to a Taunton gas station. Hodo was detained, searched, and arrested after amounts of fentanyl and cocaine were located. Members then executed the “knock and announce” search warrants without incident at locations in both states.

The searches in Massachusetts led to the seizure of approximately 528 grams of fentanyl, 206 grams of cocaine, and nearly $22,000 from Hodo’s person and vehicle. Hodo was eventually transported to State Police-Middleboro for booking on charges related to Trafficking Class A and Class B Substances.

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A simultaneous search of the Rhode Island location by Rhode Island State Police revealed the following: two firearms loaded with high-capacity magazines, approximately 12 grams of fentanyl, nearly $19,000, several high value bars of gold, jewelry, and a diamond/gold chain with receipt for $103,000.

Previously in Fall River Superior Court, Hodo pled not guilty at his arraignment and was held without bail pending a dangerousness hearing scheduled for Friday.

On Friday, also in Fall River Superior Court, dangerousness was taken under advisement with Hodo still held without bail.

His next scheduled court appearance is a pre-trial conference in February.

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