Shares of Endo International plc (ENDP) rose 5.49% in after-hours trade to $4.80 at last check. ENDP stock closed Wednesday’s session at $4.55, down -1.30%. ENDP stock volume remained at 4.87 million shares, less than the average daily volume of 6.3 million shares over the past 50 days. Over the past year, ENDP stock has gained 30.00%, and it has fallen -12.33% over the past week. ENDP stock lost -18.46% over the past three months while it has shed -47.46% over the past six months. Furthermore, ENDP has a current market value of $1.05 billion and its outstanding shares stood at 230.55 million. Following the settlement of litigation by its subsidiaries, ENDP stock surged.
ENDP Stock has settled which litigation?
Endo Endo is a specialty pharmaceutical company dedicated to enhancing every person’s quality of life through the provision of superior therapies. Over the decades, ENDP’s success has been based on a worldwide team of passionate employees working together to develop the best treatments. In collaboration with the ENDP, insights are being transformed into treatments benefiting patients when they most need them.
Endo Health Solutions Inc. and Endo Pharmaceuticals Inc. (together Endo), wholly-owned subsidiaries of ENDP, have signed a definitive Settlement Agreement and Release (the “Settlement Agreement”), announced ENDP in a press release yesterday.
- As a result of this decision, an opioid-related case originally captioned Staubus, et al. v. Purdue Pharma, L.P., et al., Case No. : 15-3575 has been resolved.
- The case was C-41916 in the Circuit Court for Sullivan County, Tennessee.
- There were nine counties, eighteen cities and towns within the nine counties in eastern Tennessee and one individual plaintiff in the Staubus case.
- The Settlement Agreement resolves all opioid-related claims that plaintiffs, in Staubus or elsewhere, raised or could have raised.
- The Settlement Agreement stipulated that ENDP would pay a total of $35 million, which was going to be divided proportionally among the plaintiffs.
- The settlement does not involve any admission of wrongdoing, fault or liability of any kind on the part of ENDP, and the settlement value is not applicable to any other opioid-related cases.
Moreover, it was announced recently by Endo that the results of a Phase I study (EN3835–105) evaluating collagenase Clostridium Histolyticum (CCH) for the treatment of plantar fibromatosis have been positive. In Denver, July 29-August 1, the American Podiatric Medical Association Annual Scientific Meeting, The National, presented an e-poster containing the data of the ENDP study.
What has ENDP observed?
There are limited options for appropriately treating this condition and removing the nodules effectively, so Endo (ENDP) is primarily focused on treating plantar fibromatosis for pain relief and swelling. New data from the ENDP trial suggest that CCH is a potentially effective nonsurgical treatment for this disease.
