Teva Pharmaceutical Industries Limited (New York Stock Exchange: teva; level: teva) today announced the conclusion of a full resolution of the United States Wide Settlement Agreement for opioid claims brought by US states, their subdivisions, and their respective districts, by reaching a separate settlement with the final state of Nevada. Teva will pay Nevada $193 million over 20 years (including all fees and costs), and this settlement resolves the case before trial, which was scheduled to begin in August 2023.
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Teva has resolved its opioid disputes with all 50 US states and more than 99% of their litigation divisions and special districts. The company expects to make the first payment under the Nationwide Opioid Settlement Agreement in the second half of 2023. Teva has already begun shipping its generic version of its life-saving drug, Narcan (naloxone hydrochloride nasal spray) under previous opioid settlements, and will expand those shipments Under the Nationwide Opioid Settlement Agreement in 2024.
While the final agreement does not include any admission of wrongdoing by Teva, it remains in the interest of the company, and in the interest of those affected by the opioid crisis.
Published by Globes, Israel business news – en.globes.co.il – on June 8, 2023.
© Copyright Globes Publisher Itonut (1983) Ltd., 2023.
