JEFFERSON CITY, Mo. – An opioid settlement announced Wednesday could bring millions of dollars to Missouri for abatement, treatment and education over the issue.
Missouri Attorney General Eric Schmitt announced the opioid settlement Wednesday with pharmaceutical company Endo International PC. As part of the settlement, Endo and it lenders will provide up to $450 million nationwide to several states and local governments. Endo will also ban the promotion of its opioids and turn over millions of documents for a public online archive.
Endo reportedly boosted opioid sales using deceptive marketing that downplayed the risk of addiction and overstated the benefits.
“This settlement, like previous settlements with Johnson & Johnson, major opioid distributors, Teva, and others, will bring critical resources to those who desperately need help with opioid addiction and abuse,” said Schmitt.
Schmitt’s office says it’s unclear how much Missouri and other states will receive at this time, but distribution amounts will be determined in the future. Endo also filed for Chapter 11 bankruptcy protection Tuesday. The company will pay out $450 million in cash over the next ten years.