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

  • Joint proposal would settle thousands of damage suits in US
  • Arbitration continues as companies fight over indemnity deal
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Teva Pharmaceutical Industries Ltd. and Allergan Plc are willing to pay more than $5 billion combined to resolve more than 3,500 lawsuits filed against them over highly addictive opioid painkillers, according to three people familiar with settlement talks. 

The two drugmakers, which are among about a dozen companies facing thousands of damage claims over the medications, have been in mediation talks with plaintiffs for more than a year, the people said. While Teva and Allergan indicated a willingness to settle, no formal offer has been made or finalized, and talks are continuing, according to the people.