Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has announced that it has reached an agreement with the Attorney General of Rhode Island that settles the state’s opioid-related claims.
Under the terms of the settlement, Teva will pay Rhode Island $21 million over 13-years. The Israeli pharmaceutical company will also provide Rhode Island its recently launched generic opioid overdose treatment Narcan (naloxone hydrochloride nasal spray) and a significant amount of buprenorphine naloxone (sublingual tablets), known by the brand name Suboxone, valued at a combined $78.5 million (wholesale acquisition cost) over 10 years.
RELATED ARTICLES
The settlement structure is consistent with previously announced settlements. In February, Teva reached a similar settlement with Texas, in which it will pay $150 million over 15 years and provide Narcan worth $75 million (wholesale acquisition cost) over 10 years.
Teva stressed that the settlement agreement is not an admission of any liability or wrongdoing and the company will continue to defend itself in court, in states where it has not reached terms of a settlement agreement.
Published by Globes, Israel business news – en.globes.co.il – on March 22, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
