Teva & Rhode Island Agree On A $100M Opioid Deal

Teva & Rhode Island Agree On A $100M Opioid Deal

Introduction

Teva Pharmaceuticals and its several affiliates have agreed on a settlement worth more than $100 million with Rhode Island over the company's role in the opioid crisis.

The settlement would even include $28.5 million in cash along with drug donations to treat opioid addiction. The deal will end the claims brought by Rhode Island against Teva, which allege that the company marketed the benefits of opioids and downplayed the risks.

Rhode Island's Attorney General Peter F. Neronha stated that no settlement amount would reverse the adverse effects of opioids on the state and its communities but will surely help to set up recovery programs and deal with the crisis. The AG even notified that Teva has agreed to supply enough Naloxone for the next 10 years at no cost to deal with the opioid epidemic. Naloxone is a medication used to reverse the effects of opioids.

As per the agreement, Teva will pay $28.5 million to the state for 13 years. It will also provide 50,000 kits of overdose medication Naloxone every year. The drugmaker will even supply Suboxone worth $16 million, which is used to treat the opioid disorder.

The spokesperson for Teva informed that the settlement is in the best interest of those who are affected by the opioid crisis. The company even stated it does not admit to any liability of wrongdoing even though the company has agreed on a settlement and will continue to defend itself in court.