Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. and its affiliates, has reached an agreement with the Attorney General of West Virginia that settles the state’s and its subdivisions opioid-related claims. The settlement will provide West Virginia with $75 million over 15 years in addition to $8 million in attorneys’ fees and costs incurred during the trial. Teva will also provide its life-saving medicine, the generic version of Narcan® (naloxone hydrochloride nasal spray), valued at $27 million (wholesale acquisition cost), over 10 years. The settlement structure is consistent with previously announced settlements.
Today’s settlement with the state of West Virginia is another critical step forward in getting life-saving treatments to people suffering from addiction to opioids. This settlement agreement is not an admission of any liability or wrongdoing, and the Company continues to actively negotiate a national settlement.
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