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Teva and Allergan finalise terms of US opioid settlements worth $6.6bn combined

Nearly 500,000 died from an opioid overdose between 1999 and 2019

Teva

Teva Pharmaceuticals (Teva) and AbbVie’s Allergan branch have finalised the terms of nationwide settlements to resolve thousands of lawsuits in the US over the marketing of opioid painkillers, the companies announced in separate statements.

Under the previously announced deals, Teva will pay up to $4.25bn, including a supply of its generic version of Narcan (naloxone hydrochloride nasal spray), a life-saving medication which can reverse an overdose from opioids.

Meanwhile, Allergan will pay up to $2.37bn, with the final amounts of the settlements dependent on how many state and local governments opt into them.

The sign-on process for states will now begin, followed by a similar sign-on process for the states’ subdivisions and special districts.

According to the Centers for Disease Control and Prevention, nearly 500,000 people have died from an overdose involving any opioid, including prescription and illicit opioids, between 1999 and 2019.

US states, cities and counties have filed thousands of lawsuits against opioid manufacturers, distributors and pharmacies, accusing them of downplaying addiction risks and failing to stop the drugs from being diverted for illegal use.

The litigation over opioids, which began in 2017, has yielded more than $40bn in settlements with drugmakers, distributors and pharmacy chains.

Throughout the legal proceedings related to the opioid-related allegations, neither Teva nor AbbVie admitted to any wrongdoing.

As part of the settlements, the two companies said they have resolved their ongoing dispute over opioid liability, originating from Teva having acquired Allergan's generic drugs portfolio in 2016, including its substantial opioid business.

“The finalised agreements with Allergan and Teva are significant steps forward in our continued efforts to hold those responsible for the opioid epidemic accountable and obtain the necessary resources to battle its catastrophic effects,” lead attorneys for US states and local governments said in a joint statement.

Teva said in a statement: “Given the high participation rate in other nationwide opioids settlements – and Teva’s settlements with Texas, Florida, Louisiana, Rhode Island, West Virginia, San Francisco and New York – we remain optimistic that a high participation rate in this nationwide settlement will be achieved, enabling us to put these cases behind us and continue to focus on the patients we serve every day.”

Article by
Emily Kimber

25th November 2022

From: Healthcare

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