BRIEF—Teva settles with Texas over state's opioid-related claims

Israel-based generics giant Teva Pharmaceutical Industries’ US subsidiary has reached an agreement with the Attorney General (AG) of Texas that settles the state’s and its subdivisions opioid-related claims.

Under the terms of the settlement, Teva will pay Texas $150 million over a 15-year time period and will provide the recently launched, lifesaving medicine generic Narcan (naloxone hydrochloride nasal spray), valued at $75 million (wholesale acquisition cost) over 10 years.

“Expanding access to lifesaving medicines is at the core of Teva’s mission. The Texas Attorney General is taking steps to address the opioid epidemic in the State by negotiating a settlement that includes critical medicines as part of their solution,” said Kåre Schultz, Teva’s president and chief executive.

“While the settlement includes no admission of wrongdoing by Teva or its affiliates, it remains in the best interest of Teva to put these cases behind us and continue to focus on the patients we serve every day,” he added.