Teva Pharmaceuticals of Parsippany released a statement May 25 saying it reached an agreement with the attorney general of West Virginia settling the state’s and its subdivision’s opioid-related claims.
According to Teva — the U.S. headquarters of the Israel-based Teva Pharmaceutical Inds. Ltd. — the settlement is for $75 million over 15 years in addition to $8 million in attorneys’ fees and costs incurred during the trial. Teva will also provide the state its opioid-overdose treatment, the generic version of Narcan, valued at $27 million, over 10 years.
The company stated the settlement agreement is not an admission of any liability or wrongdoing and that it continues to actively negotiate a national settlement.
West Virginia Attorney General Patrick Morrisey held a press conference the same day, outlining not only the settlement with Teva, but also with Chicago-based AbbVie’s Allergan, for a combined total settlement of $161.5 million, “the largest state-negotiated settlement in the state’s history.”
The https://t.co/cGIBrUvDKC. AG is now live discussing the huge settlement he received from opioid manufacturers Teva and Allergan. Go here to watch: https://t.co/h9tJNPOG7d
— WV Attorney General (@WestVirginiaAG) May 25, 2022
Morrisey said his office is responsible for making sure “there’s accountability within the pharmaceutical supply channel. That’s what we’re doing.”
In February, Teva reached another settlement over its opioid manufacturing and sales practices with the Texas Attorney General’s Office for $225 million for its alleged role in the opioid crisis.
