Teva reaches $4.25B settlement in national opioid cases

Teva Pharmaceuticals, an Israel-based drug manufacturer, has agreed to settle more than 3,000 opioid cases up to $4.25 billion in all cash over the next 13 years, according to The New York Times and Bloomberg.

One of the attorneys general leading the multistate effort, Pennsylvania Attorney General Josh Shapiro, said in a July 26 press release the agreement "ensures Teva will pay for its irresponsible actions."

More than half a billion dollars in the settlement has already been included in previous trials. Part of the settlement instructs Teva to fund $1.2 billion worth of naloxone, a generic used to treat opioid overdoses, for the next decade. Native American tribes will receive $100 million, the Times reported. 

In a statement, Teva said, "While the agreement will include no admission of wrongdoing, it remains in our best interest to put these cases behind us and continue to focus on the patients we serve every day," according to the Times.

The states involved in the case include California, Illinois, Iowa, Massachusetts, New York, North Carolina, Pennsylvania, Tennessee, Texas, Vermont, Virginia and Wisconsin.

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