Endo Pharmaceuticals (OTCPK:ENDO) recently announced it has executed a master settlement agreement allowing for the resolution of all the company’s known testosterone replacement therapy (“TRT”) product liability claims:
Endo International plc (ENDP) (NASDAQ: ENDP) today announced that its subsidiaries Endo Pharmaceuticals Inc. and Auxilium Pharmaceuticals, LLC (collectively, “Endo” or the “Company”) have executed a definitive master settlement agreement (the “Agreement”) allowing for the resolution of all known testosterone replacement therapy product liability claims against the Company. Under the Agreement, provided certain customary conditions are met, Endo will make a one-time deposit into a qualified settlement fund and participating claimants will release their claims. The Agreement does not increase Endo’s product liability reserve because an accrual was recorded for the settlement, together with other matters, during the fourth quarter of 2017 in connection with a previously announced memorandum of understanding. The Agreement does not involve any admission of wrongdoing or liability by Endo.
ENDP is down over 15% Y/Y, but the stock appears to have bottomed; it is up about 40% over the past month and the TRT settlement could further help sentiment. I expect Endo to experience explosive growth going forward. Read more: