Tuesday, July 23, 2024
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Teva Settles Final Opioid Case

The Israeli pharmaceutical company, Teva, announced the official closure of its opioid painkiller case. Several plaintiffs in the US had accused various drug companies, including Teva, of aggressively marketing opioid painkillers without sufficient warnings, leading to consumer addiction and fatalities. Almost a year after an announced settlement, the terms were signed by 50 US states and 99% of the involved entities and counties. Teva also separately settled with Nevada, the last remaining state, agreeing to pay $193 million over 20 years. As part of the settlements, Teva will start payments in the latter half of 2023 and will provide drugs to aid in addiction recovery. The total cost of the settlement are $4.3 Billion



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