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Endo Announces Agreement to Resolve Federal Trade Commission Investigation and Litigation

No Admission of Wrongdoing

No Monetary Payment by Endo

Covenants Relating to Patent Infringement Settlements Consistent with Current Endo and Industry Practices

DUBLIN, Jan. 23, 2017 /PRNewswire/ -- Endo International plc (NASDAQ / TSX: ENDP) and the U.S. Federal Trade Commission (FTC) today filed a joint motion in the U.S. District Court for the Northern District of California seeking the entry of a ten-year Stipulated Order for Permanent Injunction. The Stipulated Order resolves all disputes between the FTC and Endo relating to the patent infringement settlements Endo entered into in connection with its Opana® ER and Lidoderm® products. It also resolves the FTC's claims against Endo's subsidiary Par Pharmaceutical Companies, Inc. in the action FTC v. Actavis, Inc., et al. pending in the U.S. District Court for the Northern District of Georgia.

The FTC first asserted claims against Endo and certain generics manufacturers relating to the Opana® ER and Lidoderm® patent settlements in March 2016. The FTC's complaint, filed in the U.S. District Court for the Eastern District of Pennsylvania, alleged that certain aspects of the Opana® ER and Lidoderm® settlements constituted unfair methods of competition in violation of federal law and sought injunctive and declaratory relief, as well as other remedies including restitution and disgorgement. The FTC voluntarily dismissed its lawsuit in October 2016 but stated its intention to refile elsewhere. Endo subsequently filed declaratory judgment actions against the FTC in the U.S. District Court for the Eastern District of Pennsylvania seeking rulings on, among other things, whether the FTC has the statutory authority to initiate litigation against Endo in federal court with respect to the settlements and whether the FTC is able to seek disgorgement. The FTC today re-filed claims against Endo and other defendants in the U.S. District Court for the Northern District of California and also filed the Stipulated Order dismissing the claims against Endo.

Under the Stipulated Order, Endo will make no monetary payment to...


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