Teva settles opioid-related claims with San Francisco

12 July 2022

Israeli generics giant Teva Pharmaceutical Industries (NYSE and TASE: TEVA) today announced that its US subsidiary has reached an agreement with the City and County of San Francisco and the People of the State of California that settles opioid-related claims asserted on behalf of the County and City of San Francisco.

The settlement will provide San Francisco $24.8 million over 13 years, as well as life-saving medicine generic Narcan (naloxone hydrochloride nasal spray), valued at $20 million (wholesale acquisition cost), over 10 years.

Teva’s US traded shares gained 2.6% to $7.04 following the announcement.

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