Teva Wraps Up Nationwide US Opioids Settlement
Firm Removes Legal Uncertainty By Concluding Deals With All 50 US States
Teva has formally concluded its nationwide settlement agreement over opioids litigation in the US with all 50 states – including holdout Nevada – removing a significant legal overhang for the company.
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As Teva prepares to unveil a fresh strategy under new CEO Richard Francis on 18 May, the company has delivered Q1 results along with an update on planned US launches for long-acting injectable risperidone as well as biosimilar adalimumab.
Teva has all but two US states on board for its long-hoped-for nationwide settlement to resolve opioid-related claims against the firm.
Teva is on the hook to pay more than $300m to New York state over the next 18 years, in addition to $210m in damages already agreed under its proposed nationwide settlement deal, after settling claims with the New York Attorney General.