Opioid Crisis: Teva Lab Announces Over $4B US Deal

Opiate crisis: Teva laboratory announces an agreement worth more than $4 billion in the United States

90,000 people died of drug overdoses in 2020 in the United States and three-quarters of those deaths involved opiates.

Israeli generic drug maker Teva announced on Tuesday that it had reached an agreement in principle to pay more than $4 billion to the United States to settle claims lawsuits over his role in the opiate crisis.

The cause of more than 500,000 overdose deaths in 20 years in the United States, this health disaster has given rise to a myriad of proceedings launched by communities. Several companies have already agreed to pay to put an end to it.

Teva has reached an agreement in principle with representatives of states, indigenous communities and other plaintiffs on the financial terms of a nationwide opiates agreement, the group announced Tuesday at the occasion of the publication of its second quarter results.

Teva will pay up to 4.25 billion dollars […] as well as; approximately $100 million for communities, spread over 13 years, the Israel-based company adds in a statement.

This figure includes funding, up to $1.2 billion from drug overdose distributions.

The agreement does not provide for an admission of fault on the part of the pharmaceutical group.

Teva, under the influence of several lawsuits, has already reached agreements with certain American states.

Teva was one of the leading manufacturers of generic opiate drugs.

Many companies claimed to pay hundreds of millions of dollars to end legal actions regarding their role in the opiate crisis.

Johnson & Johnson, Purdue and other pharmaceutical companies and distributors are accused of encouraging doctors to overprescribe these drugs even though they knew they were seriously addictive.

< p class="e-p">90,000 people died of drug overdoses in 2020, three-quarters of which involved opiates. The US Department of Health estimates that this crisis was responsible for four years of declining life expectancy in 2014, 2015, 2016 and 2017.

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