A $10 million settlement which would be paid over the course of 10 years has been reached between Endo Pharmaceuticals and San Francisco over the company's role in the opioid crisis.
The settlement has come just days before the company's bellwether bench trial, which was supposed to kick off in California federal court. As per the agreement, the company will pay $5 million immediately, and the remaining amount of another $5 million would be paid out over 10 years.
San Francisco City Attorney David Chiu said that it is the largest per capita settlement by Endo as compared to other jurisdictions around the country. He even stated that the city's willingness and readiness about the trial have helped the city to maximize the settlement
As per the order of U.S. District Judge Charles R. Breyer, San Francisco has not provided relevant evidence where it speculates that Endo international exercised "specific manipulative" control over its subsidiaries. It resulted in Judge Breyer partially granting Endo's bid for summary judgment by tossing San Francisco's claim that the parent company is responsible for its subsidiaries' actions. The subsidiary companies of Endo include Endo Pharmaceuticals, Endo Health Solutions and Par Pharmaceutical.
The upcoming trial, which is scheduled to begin on April 25, will include Teva Pharmaceuticals, Allergan, Anda Inc. and several other drugmakers and distributors. All the defendants face similar allegations that they conveyed deceptive information about the risks and safety of opioids.
The country witnessed a wave of sweeping settlements and landmark verdicts in terms of the opioid crisis. Earlier this week, pharmaceutical companies agreed on similar settlements with West Virginia and Alabama.
