Endo Health to pay $192.7M in gov't settlement


Save Story
Leer en español

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

(AP) - Endo Health will pay almost $193 million to resolve claims that it improperly marketed the shingles treatment Lidoderm for unapproved uses like treating lower back pain.

The Malvern, Pa., drugmaker will pay $171.9 million in civil false claims settlements largely to the federal government, with $34.2 million from that total going to 47 states and the District of Columbia. Endo also agreed to pay $20.8 million as part of a deferred prosecution agreement.

Federal prosecutors said Friday that Endo Health Solutions Inc. marketed the drug for unapproved uses between 2002 and 2006.

Endo said it was pleased to resolve the issue, and it has programs in place to help it comply with the agreements. The drugmaker had already set aside $194 million to cover settlement costs.

Doctors can prescribe medicines for any use, but drug makers cannot promote them in any way that is not approved by the U.S. Food and Drug Administration.

Shares of Endo Health climbed 2.3 percent, or $1.78, to $78.21 Friday afternoon, while broader trading indexes were largely flat. The stock had reached a new 52-week high of $78.28 earlier in the session.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Most recent Business stories

Related topics

Business
The Associated Press

    STAY IN THE KNOW

    Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the KSL.com Trending 5.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast