Opioid manufacturer Teva Pharmaceuticals announces $523M settlement with New York state News
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Opioid manufacturer Teva Pharmaceuticals announces $523M settlement with New York state

New York Attorney General Letitia James Thursday reached a $523 million settlement with opioid manufacturer Teva Pharmaceuticals Industries. The settlement is the largest reached with an individual state; state and local governments also reached a nationwide settlement with Teva earlier this year for $4.35 billion.

In total, New York will receive $523 million from Teva–$210 million from the state and local settlement as well as $313 million from an individual agreement with New York. James said the funds will be used for abatement, treatment and prevention efforts in communities affected by the opioid epidemic. James also secured commitments from Teva regarding banning high-doses of opioids, prohibitions on opioid marketing and political lobbyin, and disclosure of clinical data.

Commenting on the settlement, James said:

I made a promise to put an end to the havoc wreaked by opioid manufacturers in New York and across the nation and to hold them accountable for the consequences. This is a landmark day in our battle against the opioid crisis, and I am proud to be able to deliver critical funding and resources to the communities Teva and other companies ravaged with their rampant misconduct.

Teva made no statement about Thursday’s settlement other than to note its existence in its third quarter financial report. Teva did, however, comment on the state and local settlement in saying, “[W]e remain optimistic that we will see a high participation rate in this nationwide settlement, enabling us to put these cases behind us and continue to focus on the patients we serve every day.”

James first began prosecuting opioid manufacturers in 2019. Initially, James brought charges of public nuisance against six drug manufacturers, Purdue Pharma’s Sackler family, and four drug distributors. The lawsuit cited drug companies’ deliberate betrayal of their duty to protect against drug abuse. A New York jury found Teva liable in that suit. The settlement amount agreed to Thursday resolves the remedy phase of the trial and brings to an end James’ opioid litigation.

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