Opioid Manufacturer Teva Reaches $225 Million Settlement Deal with State of Texas

The drug manufacturer Teva Pharmaceutical Industries LLC has settled a lawsuit levied against them from the state of Texas for the tune of $225 million. Teva, a drugmaker based in Isreal, will pay $150 million in damages over 15 years and provide the state with $75 million worth of the anti-overdose Narcan (naloxone) as a generic.

According to Nate Raymond of Reuters, “The deal is the largest Teva has struck in the more than 3,500 lawsuits it faces seeking to hold it and other drug companies responsible for an opioid abuse epidemic that led to hundreds of thousands of overdose deaths over the last two decades nationally.”

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(Source: Reuters, February 7^th, 2022)