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Teva, AbbVie Reach $161.5 Million Opioid Deal in W. Virginia (1)

May 25, 2022, 3:20 PM

Teva Pharmaceutical Industries Ltd. and AbbVie Inc.’s Allergan agreed to pay a combined $161.5 million to resolve lawsuits by West Virginia over the state’s opioid epidemic, ending a trial against the drug makers that began last month.

West Virginia will receive $134.5 million in cash under the settlement, which will be used “to abate the massive problems caused by the flood of opioids” into the state, Attorney General Patrick Morrisey said Wednesday in a statement.

The state has now reached $297 million in settlements with five companies, Morrisey said.

Read More: Teva, Allergan Willing to Pay $5 Billion for Opioid Accord

Teva’s share of the settlement includes $75 million paid over 15 years to the state, plus $8 million in attorneys’ fees, the company said in a statement. Teva will also provide supplies of an overdose treatment drug over the next decade valued at $27 million.

Allergan will pay as much as $51.2 million over five years, along with attorneys’ fees and costs, “to resolve opioid-related claims statewide,” including those made at trial, the company said in a statement.

About a dozen drug makers, distributors and pharmacies have been sued by thousands of local and state governments in the US seeking to recover costs related to abuse of highly addictive opioid painkillers. While a few cases have gone to trial, companies have begun offering settlements.

(Updates with statement from Allergan in fifth paragraph.)

To contact the reporter on this story:
Steve Stroth in Chicago at sstroth@bloomberg.net

To contact the editors responsible for this story:
Katia Porzecanski at kporzecansk1@bloomberg.net

Peter Jeffrey

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