 |
Kekst CNC handles the Chapter 11 filing of Dublin-based Endo International, which is the target of thousands of opioid-related lawsuits connected with its Opana ER painkiller and has been overwhelmed with an $8B debt load.
The company discontinued the marketing of Opana in 2017 at the request of the Food & Drug Administration.
Endo, which emerged from a management buyout from DuPont Merck, generates more than 90 percent of revenues in the US. Its operational HQ is in Malvern, PA.
CEO Blaise Coleman said the Chapter 11 filing “is a significant milestone as we advance our strategic priorities and business transformation so that Endo's value proposition can be realized.”
He said by wiping out the debt from Endo’s balance sheet and establishing a “pathway to closure” from the 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."
Kekst CNC’s team includes Daniel Yunger, Sherri Toub, Ruth Pachman, Richard Goldman, Daniel Hoadley, Nathaniel Shahan, William Halliday and Anthony Fitzgerald.
Publicis Group owns Kekst CNC.
FGS Global represents private equity firm Thoma Bravo as it makes a $4.6B bid for Darktrace, a UK-based cybersecurity artificial intelligence firm.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Have a comment? Send it to 
No comments have been submitted for this story yet.