Teva reaches $23B global opioid settlement

Teva Pharmaceuticals agreed in principle to a global settlement worth $23 billion to resolve all opioid-related litigation against the drugmaker.

Under the agreement, Teva would donate $23 billion in opioid addiction treatment drugs and pay $250 million over 10 years.

The company confirmed in an Oct. 21 news release that the agreement involves attorneys general from North Carolina, Pennsylvania, Tennessee, Texas and other defendants.

Attorneys for the plaintiff municipalities told CNBC shortly after Teva announced the agreement that they were not on board with the settlement and that it appears to be the same proposal 17 municipalities rejected Oct. 18.

Neither the global settlement nor a settlement reached earlier in the day with two Ohio counties include an admission of liability from Teva.

More articles on opioids:
Drug companies reach last-minute opioid settlement
West Virginia receives $6.5M for state opioid abuse program, telehealth services
HHS creates clinician resource for tapering patients' opioid use

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