Teva Pharmaceutical Industries Ltd.’s headquarters.  Photo: Adam Reynolds/Bloomberg

Teva Pharmaceutical Industries Ltd., a Tel Aviv, Israel-based manufacturer of generic opiates, has agreed to a $4.25 billion global settlement to resolve thousands of lawsuits.

The global deal, announced as part of Teva’s quarterly earnings on Tuesday, would provide $3.7 billion to states, local communities and Native American tribes, plus $1.2 billion worth of generic Narcan, a nasal spray used to treat opioid overdoses. The deal is contingent on reaching an indemnification agreement with another generic opioid manufacturer, Allergan, and on Allergan, which is part of AbbVie, reaching its own nationwide settlement, as well as the participation of a certain number of states, subdivisions and Native American tribes.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.