Teva, Nevada settle opioid crisis allegations for $193 million

Teva opioid crisis settlement overview: 

• Who: Teva Pharmaceuticals agreed to a $193 million settlement with Nevada.
• Why: Nevada claimed that Teva and other pharmaceutical distributors and manufacturers contributed to the opioid crisis in the state.
• Where: The settlement applies in Nevada.

Teva Pharmaceuticals agreed to a $193 million settlement with the state of Nevada over its contributions to the Nevada opioid crisis, Nevada Attorney General Aaron D. Ford announced. 

The settlement is part of $849 million in opioid-related settlements that the state has received. The funds will be paid in annual installment payments starting with $7 million in July 2024, increasing to $9 in 2037 and growing to a $27 million payment in 2042.

That money will go to both the state and those who receive payments as part of the One Nevada Agreement on Allocation of Opioid Recoveries, according to the Teva opioid crisis settlement.

“This settlement is the most recent example of my office’s work to hold accountable those who contributed to the opioid epidemic facing Nevadans,” Ford said in a statement. “I am proud of the work that my office has done in this fight. The money coming into Nevada from these settlements will help our state recover and will help resources flow to the Nevadans impacted by this epidemic.”

Nevada worked with cities and counties across the state to create a plan to consolidate the use of opioid litigation funds in the One Nevada Agreement on Allocation of Opioid Recoveries. Those funds will be used to “remediate the harms, impact and risks caused by the opioid epidemic in the state.”

Teva will stop promoting opioids and end financial incentives for their sale, according to the Teva opioid crisis settlement

Teva also agreed to stop promoting opioids and block any financial incentives for their sale, according to the Teva opioid crisis settlement. The company will also stop funding third parties to promote opioids, impose restrictions on lobbying and create monitoring programs for regular and off-label opioid use. The company will also report customers that are high-risk opioid users and provide regular opioid abuse training to employees, according to the Nevada opioid crisis settlement.

Teva previously reached a $4.35 billion settlement across the country for its role in the opioid crisis along with a $523 million settlement in New York and a $225 million settlement in Texas.

Have you been prescribed opioid painkillers? Let us know in the comments.

Read About More Class Action Lawsuits & Class Action Settlements:

• FDA warns against using off-brand versions of Ozempic, Wegovy
• Judge denies P&G’s motion to dismiss Pure Zzzs excessive melatonin class action
• Eli Lilly settles insulin lawsuit with $13.5M payment, $35 price cap
• FTC seeks to block Amgen-Horizon pharmaceutical merger