Teva concludes US opioids settlement agreement

Israeli generics giant Teva Pharmaceutical Industries (NYSE: TEVA), which has been heavily implicated in the USA’s opioid overuse crisis, said today that its US subsidiary has fully resolved its nationwide settlement agreement related to opioid claims brought by US states, their subdivisions, and special districts, and has reached a separate settlement with the final state of Nevada.

Teva will pay Nevada $193 million over 20 years (including all fees and costs), and this settlement resolves the case prior to trial, which had been scheduled to begin in August 2023.

With these developments, Teva has resolved its opioid litigation with all 50 US states and more than 99% of the litigating subdivisions and special districts. The company anticipates making its first payment under the nationwide opioids settlement agreement in the second half of 2023.