New York could get $524M under opioid settlements with Teva

NEW YORK — New York will obtain as much as $524 million from drugmaker Teva to settle claims that the company contributed to the U.S. opioid epidemic, the most important quantity secured from an opioid producer or distributor sued by the state, Attorney General Letitia James introduced Thursday.

The state has reached a collection of settlements with drug corporations following an legal professional common’s lawsuit in 2019 accusing them of misleading advertising and failing to stop the illegal diversion of managed substances.

Teva Pharmaceuticals USA, Inc. and its associates had been discovered liable final year for public nuisance fees by a jury on Long Island. To resolve the treatments part, Teva agreed to pay out $313 million over 18 years, James stated.

New York will moreover obtain $211 million from a $4.3 billion nationwide settlement Teva agreed to in July whether it is authorised by state and native governments and tribes, in line with the legal professional common.

Teva was the final remaining opioid defendant not at present in chapter and James stated the settlement ends her litigation towards the businesses. The state has secured greater than $2 billion to fight the scourge of opioids, she stated.

New York created a settlement fund to earmark the money for abatement, therapy, and prevention efforts in hard-hit communities.

“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,” James said in a prepared release.

The agreement includes a prohibition on marketing opioids, restrictions on political lobbying and a ban on high-dose opioids.

An electronic mail in search of remark was despatched to Teva.

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