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Teva Wins Support For Nationwide Opioid Settlement With Bigger Cash Offer

 
• By Brenda Sandburg

Teva to pay $4.25bn over 13 years under agreement in principle with 12 state attorneys general, Native American tribes and plaintiffs’ lawyers. Previous settlement offer provided mostly medication. Deal is contingent on governments signing on and Allergan inking settlement.

Opioid map
Teva agreement in principal for nationwide opioiod settlement depends on adoption by sufficient number of plaintiffs • Source: Shutterstock

After three years of negotiations, Teva Pharmaceutical Industries Ltd. offered enough cash to get a dozen state attorneys general and plaintiffs’ lawyers representing states and subdivisions to support an agreement in principle for a nationwide opioids settlement.

The company announced on 26 July that it had agreed to pay $4.25bn, plus $100m for Native American tribes, over 13 years. The $4.25bn figure includes amounts Teva has previously agreed to pay under settlements and includes the supply of up to $1.2bn at wholesale acquisition cost (WAC) of a generic version of Emergent BioSolutions, Inc

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