Teva Pharmaceutical Industries Ltd., a Tel Aviv, Israel-based manufacturer of generic opiates, has agreed to a $4.25 billion global settlement to resolve thousands of lawsuits.
The global deal, announced as part of Teva’s quarterly earnings on Tuesday, would provide $3.7 billion to states, local communities and Native American tribes, plus $1.2 billion worth of generic Narcan, a nasal spray used to treat opioid overdoses. The deal is contingent on reaching an indemnification agreement with another generic opioid manufacturer, Allergan, and on Allergan, which is part of AbbVie, reaching its own nationwide settlement, as well as the participation of a certain number of states, subdivisions and Native American tribes.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
