Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. and its affiliates, has reached an agreement with the Attorney General (AG) of Texas that settles the state’s and its subdivisions opioid-related claims. Under the terms of the settlement, Teva will pay Texas $150 million over a 15-year time period and will provide the recently launched, lifesaving medicine generic Narcan®, valued at $75 million over 10 years.
“Expanding access to lifesaving medicines is at the core of Teva’s mission. The Texas Attorney General is taking steps to address the opioid epidemic in the State by negotiating a settlement that includes critical medicines as part of their solution. While the settlement includes no admission of wrongdoing by Teva or its affiliates, it remains in the best interest of Teva to put these cases behind us and continue to focus on the patients we serve every day.”
Kåre Schultz, Teva’s President and CEO
Naloxone is a life-saving medication that can reverse an overdose from opioids.1 As of December 2021, Teva has made available the first generic version of this critical medicine and has included this product in the Company’s ongoing pursuit of a national or narrower settlement with individual states such as the deal announced today.
The Company will continue to defend itself in court in states where we have not reached terms of a settlement agreement. Teva believes that today’s settlement with the state of Texas is a critical step forward in getting life-saving treatments to people suffering from opioid addiction.
About Teva
Teva Pharmaceutical Industries Ltd. has been developing and producing medicines to improve people’s lives for more than a century. We are a global leader in generic and specialty medicines with a portfolio consisting of over 3,500 products in nearly every therapeutic area. Around 200 million people around the world take a Teva medicine every day, and are served by one of the largest and most complex supply chains in the pharmaceutical industry. Along with our established presence in generics, we have significant innovative research and operations supporting our growing portfolio of specialty and biopharmaceutical products.