WASHINGTON, July 27 — Israeli generic drug maker Teva has reached an agreement in principle to pay US$4.25 billion over 13 years to settle a series of court cases over its role in the US opioid epidemic.
Teva reached the potential agreement on the terms of a “nationwide opioids settlement” with a working group of state attorneys general and lawyers for Native American tribes and other plaintiffs, the company said in its second-quarter financial results. The overall figure includes up to US$1.2 billion in the generic version of Narcan, which can reverse opioid overdoses.
Teva has already gone through several opioid-related lawsuits and reached agreements with some states.
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