Teva in $85 million settlement with Oklahoma state over opioids allegations
US affiliates of Israeli generics giant Teva Pharmaceutical Industries (NYSE: TEVA) have entered into an agreement for a one-time payment of $85 million to the state of Oklahoma, it was announced on Sunday.
The settlement resolves the state’s claims against Teva for its role in fueling the opioid epidemic in the region. Teva’s share price was down 2.55% in Sunday afternoon trading on the TASE at 39.72 shekels.
While the terms of the settlement agreement may take up to two weeks to finalize, the money will go to the state once it’s received, noted state Attorney General Mike Hunter. The funds will then be used to abate the opioid crisis in Oklahoma. A future announcement containing the specific terms of the agreement will be made at a later date.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Generics
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze