Teva Inks Texas Opioids Settlement And Eyes J&J’s Nationwide ‘Formula’
Israeli Giant Spells Out ~$3bn Nationwide Settlement Ambition; Wants Deal In 2022
Teva CEO Kåre Schultz has spoken at great length of the firm’s current standing with opioid-related matters, days after it reached a deal valued at $225m to resolve claims in the state of Texas. A nationwide deal is still top of the Israeli firm’s agenda, with a rough estimate of $3bn-$4bn suggested.
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Teva has struck a further cash-and-medicines settlement agreement to resolve opioid-related claims in the US. A bench trial had been due to start in West Virginia by the end of this month, where Teva is to pay $75m over 15 years plus generic Narcan.
Teva has settled the opioid claims it faced in the state of Florida, alongside CVS, Allergan and Endo.
Teva has settled with the state of Rhode Island on opioid-related claims and is set to pay the state $21m in cash and provide $78.5m worth of Narcan and Suboxone. The settlement was reached just as Rhode Island was preparing to take Teva to trial.