Teva Settles Opioid Lawsuits for $4.25 Billion

Teva has reached a settlement that could end the thousands of lawsuits filed against the company for its contributions to the opioid crisis in the US. The nationwide settlement will amount to a whopping $4.25 billion, with funds going to local and state governments. A $1.2 billion chunk of the settlement would be in the form of generic Narcan, which quickly reverses opioid overdoses. Another $100 million would go to Native American nations.

According to Julia Mueller, “Native communities, to which the settlement allocates special funding, have been among those communities hit hardest by the epidemic. Though white Americans make up the majority of overdose deaths, the rates are higher among Black Americans and Native Americans.”

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(Source: The Hill, July 26th, 2022)