Teva Settles Opioid Litigation In Florida For $177m
Firm Will Also Provide State With $84m Worth Of Generic Narcan
Teva has settled the opioid claims it faced in the state of Florida, alongside CVS, Allergan and Endo.
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Teva has settled the final outstanding advanced US state-level opioid-related case against the firm, but recent allegations from the New York attorney general could see the firm back in court sooner rather than later.
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.
After adding more than $1bn to its legal settlement contingency in Q1, Teva has given its clearest indication yet for when it expects to announce a nationwide deal in the US to settle opioid-related claims. The Israeli firm is facing two bench trials in the coming weeks and months but is optimistic on that front also.