Teva Reaches Agreement with Rhode Island to Settle Opioid-Related Claims

Teva Pharmaceuticals, a US affiliate of Teva Pharmaceutical Industries Ltd. and its affiliates, has reached an agreement with the Attorney General of Rhode Island that settles the state’s and its subdivisions opioid-related claims.

The settlement includes an ample supply of life-saving medicines to meet or exceed the current need in the state of Rhode Island for the next 10 years, including additional expenses from a previous trial that was set to start on March 16, 2022. Under the terms of the settlement, $21 million will be paid to Rhode Island by Teva over 13 years, and a combined value of $78.5 million (wholesale acquisition cost) of the generic of the company’s medicine Narcan (naloxone hydrochloride nasal spray) and buprenorphine naloxone (sublingual tablets) will be provided over 10 years.

Buprenorphine naloxone is the primary drug used to treat opioid addiction. Naloxone is a life-saving medication that can reverse an overdose from opioids.

According to a press release, “Teva believes that today’s settlement with the state of Rhode Island is in the best interest of those impacted by the opioid crisis and a critical step forward in getting life-saving treatments to the people who need them. This settlement agreement is not an admission of any liability or wrongdoing and the Company will continue to defend itself in court, in states where we have not reached terms of a settlement agreement.”

Source: Teva