Teva Pharmaceutical Industries proposes $4.25-billion settlement for thousands of U.S. opioid lawsuits
Teva Pharmaceutical Industries on Tuesday announced a $4.25-billion proposed nationwide settlement that could resolve thousands of lawsuits over the drugmaker’s alleged role in the U.S. opioid epidemic.
The settlement’s cash portion is higher than Teva’s chief executive suggested in May. CEO Kare Schultz told analysts at the time that he expected the company to pay around $2.6-billion in cash and medicine to reach a nationwide settlement. Iowa Attorney General Tom Miller, a lead negotiator for the states, called it “another major step in addressing the opioids crisis.”
For the Teva deal to take effect, Allergan must reach its own nationwide opioid settlement, and the two companies must settle a dispute over the amount Allergan owes Teva for claims filed prior to the 2016 sale.The Teva settlement will not be finalized unless a sufficient number of state and local governments agree to accept the terms. Teva has already agreed to settlements with West Virginia, Texas, Florida, Rhode Island and Louisiana, and the value of those will be included in the proposed $3.
The U.S. opioid crisis has caused more than 500,000 overdose deaths over the past two decades, including more than 80,000 in 2021 alone, according to government data.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GM net income drops 40% in Q2 to US$1.7BThe automaker said it expects stronger results in the second half of 2022 to meet its existing guidance of US$13 billion to US$15 billion in adjusted earnings.
Read more »
U.S. Senate votes to advance sweeping semiconductor industry billU.S. Senate voted 64-32 on Tuesday to advance legislation providing about $52-billion in government subsidies for U.S. semiconductor production
Read more »
10 people die of suspected opioid overdoses in 5 days, prompting drug alert from Toronto Public Health | CBC NewsToronto Public Health issued its first drug alert this year after 10 people died of suspected opioid overdoses in five days.
Read more »
MPs begin another two days of hearings into Hockey Canada's sex assault settlementMore Hockey Canada officials are appearing before a parliamentary committee this week as fallout continues over allegations that players from two World Junior Championship teams committed group sexual assaults in 2003 and 2018.
Read more »
MPs begin another two days of hearings into Hockey Canada’s sex assault settlementOTTAWA — More Hockey Canada officials are appearing before a parliamentary committee this week as fallout continues over allegations that players from two
Read more »
Google-parent Alphabet posts higher quarterly revenueSecond-quarter revenue rose to $69.69 billion from $61.88 billion a year earlier as its ad business managed to withstand challenging economic pressures
Read more »