Member access

4-Traders Homepage  >  Shares  >  Nasdaq  >  Endo Health Solutions Inc    ENDP   US29264F2056

News SummaryMost relevantAll newsSector news 
The feature you requested does not exist. However, we suggest the following feature:

Endo Health Solutions Inc : Endo Pharmaceuticals to Pay $172.9 Million to Resolve Off Label Marketing Allegations

03/01/2014 | 06:55am US/Eastern

PIERRE, S.D., Feb. 28 -- The South Dakota Attorney General issued the following news release:

Attorney General Marty Jackley announced that South Dakota has joined with other states and the federal government in a global settlement with Endo Pharmaceuticals, a wholly owned subsidiary of Endo Health Solutions (Endo), a manufacturer of pharmaceutical products. The settlement resolves civil allegations of unlawful marketing practices aimed at promoting the drug Lidoderm for conditions not approved by the Food and Drug Administration (FDA). According to the qui tam, or whistleblower lawsuit, Endo unlawfully marketed Lidoderm for use in connection with lower back pain or chronic pain. The FDA approved Lidoderm only for the treatment of pain associated with post-herpetic neuralgia, more commonly known as "shingles."

Under the terms of the civil settlement, Endo will pay $172,916,967 to the states and federal governments and a $20,000,000 dollar criminal fine. Between March 1999 and December 2007, Endo knowingly promoted the sale and use of Lidoderm for use in connection with lower back and chronic pain which were not medically accepted indications and were not covered by the state Medicaid program. South Dakota's will receive $98,800 as part of the settlement, of that amount $64,787 is the Federal Medicaid share.

TNS 30FurigayJof 140228-4653855 30FurigayJof

(c) 2014 Targeted News Service

React to this article
01/21DJEndo International to Join S&P 500 as Boston Beer Moves Up to MidCap List
2014 U.S. court denies Ranbaxy's bid to block launch of rival generics
2014 Ranbaxy sues FDA over revoking approvals for Nexium, Valcyte copies
2014 Auxilium Pharma accepts Endo's buyout offer, drops QLT deal
2014DJU.S. HOT STOCKS : Hot Stocks to Watch
2014DJU.S. HOT STOCKS : Hot Stocks to Watch
2014 ENDO : Reaches Master Settlement Agreements to Resolve Substantially All Remaini..
2014DJMARKET SNAPSHOT : U.S. Stocks Gain; Dow Closes At Record High
2014DJMARKET SNAPSHOT : U.S. Stocks Extend Gains On Fed Decision
2014DJMARKET SNAPSHOT : U.S. Stocks Rise Ahead Of Fed Statement
Income Statement Evolution
More Financials
Dynamic quotes