![]() ![]() ![]() The Company is filing with the Court a series of customary motions to maintain business-as-usual operations on all fronts and uphold its commitments to its stakeholders, including team members, customers, suppliers, and business partners, during the process. Notably, the Company and a consortium of state attorneys general have agreed on certain injunctive terms relating to the sale of Endo's opioid products, including with respect to promotion, funding/grants to third parties, and suspicious order monitoring, which will be presented to the Court for approval. This significant cash on hand, coupled with positive cash flow from operations, will provide ample liquidity as the Company continues to deliver the life-enhancing products that its customers and their patients expect today and in the future. The Company's secured creditors have consented to use of cash collateral to fund the Company's day-to-day business during the process. Our commitment to our mission, team members, customers, patients, and communities will not change, and we look forward to emerging from this process better positioned to continue helping everyone we serve live their best lives." Coleman continued, "This process will enable us to continue our ongoing business transformation, including investing in our core areas of growth, as we work to execute a transaction to strengthen our balance sheet and secure a strong tomorrow. "By definitively addressing the more than $8 billion of debt that has burdened our balance sheet and establishing a pathway to closure with respect to the thousands of opioid-related and other lawsuits that the Company has been defending at an unsustainable cost, we will be able to move forward as a new Endo and reach our full potential." "Today's announcement is a significant milestone as we advance our strategic priorities and business transformation so that Endo's value proposition can be realized," said Blaise Coleman, Endo's President and Chief Executive Officer. The Company expects to file recognition proceedings in Canada, the United Kingdom, and Australia. Endo's India-based entities are not part of the Chapter 11 proceedings. Bankruptcy Court for the Southern District of New York ("Court"). To facilitate the sale process and provide an appropriate forum for bringing closure to opioid-related and other uncertainties without the need for continued costly, time-consuming litigation, Endo and certain of its subsidiaries initiated voluntary prearranged Chapter 11 proceedings in the U.S. This "stalking horse" bid will be subject to higher or otherwise better offers. Have net funded leverage in an amount no greater than 4.5x.Establish voluntary trusts, to be funded with $550 million over 10 years, whereby future proceeds will be set aside for certain opioid claims and.Offer employment to all of Endo's active team members.The transaction contemplates that the purchaser will: Paladin Labs Announces the Canadian Launch of Emtrix®įor complete list of press releases click Here.Under the RSA, the debtholder group has committed to providing total purchase consideration of approximately $6 billion in the form of a credit bid, plus assumption of certain liabilities, for substantially all of the Company's assets. Paladin Labs Announces the Canadian Launch of Zincofax® Spray Announces the Launch of Unisom® Snore Relief, the Only Natural Health Product Throat Spray Available in Canada to Help Relieve Symptoms Associated with SnoringĪRIAD and Paladin Announce Commercial Distribution Agreement for Iclusig (Ponatinib) in Canada Announces Launch of New Indication for XIAFLEX® (Collagenase Clostridium Histolyticum), Broadening Its Use to the Treatment of Appropriate Patients with Peyronie's Disease Announces Approval of Envarsus PA TM (tacrolimus prolonged-release tablets) in Canadaīioprojet and Endo Jointly Announce Agreement for Paladin Labs Inc. Helsinn and Endo Announce Agreement for Paladin Labs Inc. Movapo® (apomorphine hydrochloride) for Patients with Advanced Parkinson's Disease Now Reimbursed in Most Canadian Provinces to Commercialize Abaloparatide in CanadaĮnvarsus® PA Once-daily Immunosuppressive Therapy for Kidney and Liver Transplant Patients is Now Reimbursed in Ontario, Quebec, Manitoba and Saskatchewan Announces Approval of Wakix® (pitolisant) in CanadaĪDVANZ PHARMA and Endo Announce Partnership for Paladin Labs to Commercialize Xydalba® (dalbavancin hydrochloride) in CanadaĮndo Announces Licensing Agreement for Paladin Labs Inc. ![]() Announces the Launch of Xydalba® (dalbavancin for injection) in Canada Paladin Labs Announces Health Canada’s Filing Acceptance of Cenobamate Tablets as an Adjunctive Therapy for the Management of Partial-Onset Seizures in Adults with Epilepsy ![]() Endo Announces Approval of XCOPRI™ (cenobamate tablets) in Canada ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |