Teva Offers Drugs Valued at $23 Billion to End Opioid Suits
- Israeli firm to donate addiction-fighting drugs to end claims
- Announcement comes on heels of settlement of Cleveland trial
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Teva Pharmaceutical Industries Ltd. said it offered to settle thousands of opioid lawsuits by providing what the company says are billions of dollars in drugs for use in fighting the U.S. addiction epidemic, though the proposal has been met with opposition from cities and counties.
The Israel-based generic drugmaker said in a statement Monday the deal it reached with a group of four state attorneys general would, if accepted, wipe out all suits accusing the company of fanning the flames of a public-health crisis tied to the opioid painkillers. Teva offered to pay $250 million in cash along wtih a donation of addiction-fighting drugs, the company values at $23 billion.