Connect with us

Delaware

WSJ: Endo International is weighing bankruptcy option – Delaware Business Now

Published

on

WSJ: Endo International is weighing bankruptcy option – Delaware Business Now


Picture from Morguefile.

Endo Worldwide, a DuPont spin-off is taking a look at a chapter submitting because it faces a rising tide of opioid-related authorized actions, based on the Wall Road Journal reported.

The Delaware Valley-based firm is laboring underneath a heavy debt load whereas coping with lawsuits from governmental items arising from pharma firms promoting extra opioid drugs than wanted for official medical functions.

Advertisement

The authorized publicity has led to chapter filings for 2 different firms,  Purdue Pharma and Mallinckrodt. Endo, in contrast to its friends didn’t attain an total settlement on claims.

Endo, an organization that makes a speciality of ache drugs equivalent to Percocet, was bought by DuPont in 1997 to DuPont pharmaceutical managers who tapped into personal fairness financing. DuPont later moved its pharmaceutical operations right into a three way partnership with Merck and later exited the pharmaceutical enterprise.

The corporate, which went public in a inventory sale, grew quickly by way of demand for its merchandise and acquisitions.

Endo was first headquartered close to the Delaware line within the Concordville-Chadds Ford space and now has a U.S. headquarters in Malvern, PA. The corporate moved its international headquarters to Eire for tax causes.

Advertisement

Carol Ammon, its first CEO, post-DuPont, has been energetic in philanthropic actions in Delaware. Ammon retired in 2007.



Source link

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Delaware

Newark approves recreational weed dispensary, still ways to go before opening

Published

on

Newark approves recreational weed dispensary, still ways to go before opening


play

Newark remains on track to be a competitive city for recreational marijuana in Delaware.

Two marijuana-related ordinances were approved at the Nov. 25 City Council meeting. The Council updated the city code regarding adult recreational use to match state law, as well as approved a special use permit for the eventual operation of a recreational dispensary in the city.

Advertisement

A special use permit allowing Fresh Delaware to operate in the city as a recreational marijuana business with cultivation, manufacturing and retail was approved with a unanimous vote.

“I think that Newark City Council can take a lot of pride in the fact that there are other towns and counties that are literally lost in the wilderness on this because they didn’t get things done in time,” Mayor Jerry Clifton said.

Fresh Delaware moves to open retail dispensary

Fresh Delaware and the area surrounding it was re-zoned to allow recreational marijuana cultivation, manufacturing and retail in August, but it required a special use permit from the city. Now, Fresh Delaware only has the state’s conversion process left to complete before it can shift from medical-only sales.

City council members uniformly had positive reviews for the representative of Fresh Delaware present at the meeting.

Advertisement

“You were a good neighbor,” Councilmember Corinth Ford said.

Fresh Delaware cultivates and manufactures its own product, and has an additional location in Seaford. It is one of the 13 medical dispensaries in the state. There is another area in Newark zoned to allow recreational marijuana business toward the Maryland border.

Fresh Delaware is on track to open for recreational sales in the spring, according to the state Office of the Marijuana Commissioner. Spring is the statewide goal for retail openings, though the store still has a ways to go on its conversion track.

Advertisement

Where other Delaware cities stand

As Newark approves a recreational business, other cities in the county are behind.

Wilmington has been back-and-forth on bans, buffers and zones while New Castle County government is discussing possible buffers for retail locations in December. Other cities in Delaware, including Rehoboth, Lewes and Bethany, banned retail altogether.

Wilmington recently asked the state to change the law to get a cut of any sales tax, but Mayor Jerry Clifton said he wants to take a wait-and-see approach on how the state government responds to its request.

Newark mirrors state code in recreational usage

Advertisement

The council updated the city code around recreational usage, updating its code to match the state. The city code now reads that people 21 and older can privately use a personal quantity of 12 grams or less of concentrated cannabis, or cannabis products containing 750 milligrams or less of delta-9 THC.

Public use is still a criminal misdemeanor, however, and using while under 21 years old is a civil violation. Smoking marijuana in public also violates state law. City solicitor Paul Bilodeau said private consumption can include someone’s backyard.

Some council members had ideas about how to regulate potential parties where the smell could spread from multiple smokers, but no official action was taken on those ideas.

The ordinance was approved unanimously by City Council.

“We are in a strange world where it is legal to consume marijuana in private, but it is illegal to buy it,” Bilodeau said.

Advertisement



Source link

Continue Reading

Delaware

Delaware County man speaks out following 2 crashes within hours outside Ridley Township home

Published

on

Delaware County man speaks out following 2 crashes within hours outside Ridley Township home


Delaware County man speaks out following 2 crashes within hours outside Ridley Township home – CBS Philadelphia

Watch CBS News


Since 2014, there have been a total of 32 crashes at the intersection of Morton and Swarthmore avenues in Ridley Township, according to the Pennsylvania Department of Transportation.

Advertisement

Be the first to know

Get browser notifications for breaking news, live events, and exclusive reporting.




Source link

Advertisement
Continue Reading

Delaware

Burn Ban lifted in Delaware – 47abc

Published

on

Burn Ban lifted in Delaware – 47abc


DELAWARE – Delaware State Fire Marshals have announced that the statewide Burn Ban has been lifted as of Monday morning.

Residents are encouraged to continue practicing safety when burning fires outside, including keeping a fire at least 50 feet from all structures and never leaving a fire unattended.





Source link

Continue Reading

Trending