AbbVie and Teva Seek $5 Billion Opioid Litigation Settlements

Abbvie and Teva are looking towards an exit from their opioid litigation woes that could cost the two upwards of $5 billion. The legal challenges come from state, local, and indigenous tribal governments that would use the payments to fund addiction services, law enforcement, and other services. However, the settlement talks are ongoing and there are currently no offers on the table.

According to Zoey Becker, “One potential hang-up in the talks? The companies are arguing over a 2016 asset sale, according to Bloomberg’s sources. Under that deal, Teva paid more than $40 billion to buy Allergan’s generic business, including its generic opioids. Allergan claims the deal shifted its opioid liabilities to Teva.”

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(Source: Fierce Pharma, May 11^th, 2022)