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Endo Announces Agreements to Resolve Virtually All Known U.S. Mesh Product Liability Claims

DUBLIN, Aug. 7, 2017 /PRNewswire/ -- Endo International plc (NASDAQ: ENDP) today announced that it has reached agreements to resolve virtually all known U.S. mesh product liability claims and that it is engaged in discussions to resolve the known remaining U.S. claims at reasonable values. Under the agreements, Endo will make installment payments beginning in the fourth quarter of 2017 and continuing through the fourth quarter of 2019. As part of its second quarter 2017 results, the Company intends to increase its mesh product liability accrual by $775 million, which is expected to cover approximately 22,000 U.S. mesh claims, as well as all known international mesh product liability claims and other mesh-related matters. While Endo cannot predict the resolution of any unresolved claims or the number of any future claims, as of the date of this announcement, Endo is unaware of any mesh-related matters not covered by the foregoing accrual increase.

"Beginning in the second quarter of 2017, we aggressively executed a settlement strategy in connection with Endo's mesh litigation. We believe it is a very important milestone for Endo to have reached agreements to resolve virtually all known U.S. mesh product liability claims," said Paul Campanelli, Endo's President and Chief Executive Officer. "While...


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