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Teva Pharmaceuticals Opioid Epidemic Texas Settlement Overview:
- Who: Teva Pharmaceutical Industries Ltd. has reached a settlement worth $225 million with the state of Texas.
- Why: The settlement ends claims the drugmaker fueled an opioid epidemic in Texas by improperly marketing addictive pain medications.
- Where: The settlement was reached in the state of Texas.
The Israeli multinational pharmaceutical company Teva Pharmaceuticals has agreed to a $225 million settlement with Texas to end claims it fueled an opioid epidemic in the state by improperly marketing addictive pain medications.
Texas Attorney General Ken Paxton said Feb. 7 that Teva has agreed to pay $150 million over 15 years and provide $75 million worth of generic Narcan to the state. Narcan is a medication used to help people who are overdosing on opioids.
It was the fourth statewide opioid settlement finalized for Texas, Paxton said, with over $618 million in deals already made with Teva, Endo, Johnson & Johnson and McKinsey.
“This agreement is not only another win for Texas, but a major step in the right direction to help people overcome opioid addiction,” Paxton said.
“Pharmaceutical companies must be held accountable for their role in this devastating epidemic. These resources will be used to fund recovery initiatives that will help countless Texans.”
Teva Facing More Than 3,500 Lawsuits Over Opioid Abuse Epidemic
Teva is currently facing more than 3,500 lawsuits alleging it and other drug companies are responsible for an opioid abuse epidemic in the United States that has caused hundreds of thousands of overdose deaths over the last two decades, Reuters reports.
Teva did not admit wrongdoing as part of Monday’s settlement.
The news comes less than two months after a jury found the company flooded New York with opioids, helping to contribute to the current-day opioid epidemic in the state.
It was the second verdict to come from a jury in the nationwide wave of opioid crisis litigation.
Just prior to Thanksgiving 2021, a federal Ohio jury found that CVS and other major pharmacies ignored suspicious opioid prescriptions, contributing to the crisis. The Israeli drugmaker previously settled with Oklahoma and Louisiana.
The news comes after a New York federal judge reversed the controversial $4.5 billion settlement with Purdue Pharma that granted the Sacker family, the owners of Purdue, immunity from all future opioid lawsuits in Dec. 2021.
Purdue Pharma made the drug OxyContin, which has been blamed in part for the opioid crisis, causing millions of Americans to suffer from opioid use disorder.
What do you think of the settlement for Texas? Let us know in the comments!
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10 thoughts onTeva Pharmaceuticals to Pay $225M to Texas to Settle Opioid Epidemic Claims
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I would like to be added to the Texas suit. We have suffered for years.
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I think it’s BS, these states are collecting millions and will not do a dam thing about opioid use. This money will not be spent to help addicts. Even the doctors look at addicts like a waste of oxygen. What will The victims that had their lives ruined or taken get? That’s where the money should go, the states didn’t suffer! But they will gain! There needs to be an close audit on this money that is given to states!! It will be stolen and everyone knows this! Just look at our roads!!
Is there a lawsuit against the opiod drug companies in California. If so I would like to know
It’s too late to sign up! Doesn’t pay anyway, victims that’s lost their life or ruined their life will continue to suffer while states get billions to help the opioid crisis. 🙄do u believe they will help??