With $8bn of long-term debt on its balance sheet, fierce generic competition to its biggest-selling brand, and hundreds of millions in potential opioid-related legal claims hanging over it, Endo has filed for Chapter 11 bankruptcy proceedings in the US, providing a potential lifeline to the former serial deal maker that has been overwhelmed by its alleged involvement in the US opioid epidemic.
Stricken Endo Eyes $6bn Debt Cut With Bankruptcy Filing And Restructuring
As Company Pens Nationwide Agreement-In-Principle To Settle US Opioid Claims
A group of Endo debtholders are looking to buy the firm out of bankruptcy, with an initial $6bn bid for the stricken firm that envisions setting aside more than half-a-billion dollars for opioid-related claims. Meanwhile, Endo has reached an agreement-in-principle to resolve opioid-related claims.
