Top pharmaceutical companies Allergan (AGN) - Get Report and Endo International (ENDP) - Get Report are nearing a deals to avoid or limit court proceedings in Ohio over the misuse of their respective opioid pharmaceuticals, according to a report from The Wall Street Journal .
Allergan is said to be discussing paying $5 million while Endo is close to an agreement to pay $10 million, according to the report. The deal with Allergan may not entirely avoid a court date in the state, the Journal said. A trial is set to begin in October.
The companies, like many others, came under fire in the wake of the opioid epidemic blighting much of America over the last two decades.
However, the amounts said to be discussed for Allergan and Endo to settle (or partially settle) are far lower than those other companies already have paid. For instance, Purdue Pharma paid $270 million, and Teva Pharmaceutical Industries (TEVA) - Get Report stumped up $85 million to deal with claims in Oklahoma.
Even if the pending Ohio claims are settled, both Endo and Allergan face many other suits across the country, according to the Journal.
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Constable owns none of the securities listed in this story.