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Teva, AbbVie finalize $6.6 billion U.S. opioid settlements

By Brendan Pierson (Reuters) - Teva Pharmaceutical Industries (NYSE:TEVA) Ltd and AbbVie Inc (NYSE:ABBV) have finalized the terms of settlements worth more than $6.6 billion to...
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By Brendan Pierson

(Reuters) - Teva Pharmaceutical Industries (NYSE:TEVA) Ltd and AbbVie Inc (NYSE:ABBV) have finalized the terms of settlements worth more than $6.6 billion to resolve thousands of lawsuits by U.S. state and local governments over the marketing of opioid painkillers, the companies and lawyers for the governments said Tuesday.

Under the deals, first announced in July, Israel-based Teva will pay up to $4.25 billion, including a supply of the overdose drug naloxone. AbbVie will pay up to $2.37 billion. The final amounts of the settlements will depend on how many state and local governments opt into them.

Lead attorneys for state and local governments in a joint statement called the deals "significant steps forward in our continued efforts to hold those responsible for the opioid epidemic accountable and obtain the necessary resources to battle its catastrophic effects."

Teva and AbbVie did not admit wrongdoing. The two companies said that as part of the settlements, they have resolved a dispute between them over responsibility for claims stemming from generic opioid business that Allergan (NYSE:AGN) sold to Teva in 2016.

The sprawling litigation over opioids, which began in 2017, has yielded more than $40 billion in settlements with drugmakers, distributors and pharmacy chains.

State and local authorities have said they will use the money to combat the opioid crisis, which according to federal government data has caused nearly 650,000 overdose deaths since 1999 and is continuing to worsen.

Overdoses involving opioids, including prescription pills and heroin, surged during the COVID-19 pandemic, increasing 38% in 2020 over the previous year and another 15% in 2021, according to the U.S. Centers for Disease Control and Prevention.

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06-12-2022 07:05:32 (UTC+7)

EUR/USD

1.0499

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EUR/USD

1.0499

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AUD/USD

0.6705

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    EUR/USD 1.0499 ↑ Buy  
    GBP/USD 1.2195 ↑ Buy  
    USD/JPY 136.55 ↑ Sell  
    AUD/USD 0.6705 ↑ Buy  
    USD/CAD 1.3589 Neutral  
    EUR/JPY 143.37 ↑ Sell  
    EUR/CHF 0.9894 ↑ Sell  
    Gold 1,781.10 ↑ Sell  
    Silver 22.427 ↑ Buy  
    Copper 3.7893 ↑ Buy  
    Crude Oil WTI 77.42 ↑ Buy  
    Brent Oil 83.01 ↑ Sell  
    Natural Gas 5.627 ↑ Buy  
    US Coffee C 163.42 ↑ Sell  
    Euro Stoxx 50 3,956.53 ↑ Sell  
    S&P 500 3,998.84 ↑ Buy  
    DAX 14,447.61 ↑ Sell  
    FTSE 100 7,567.54 ↑ Sell  
    Hang Seng 19,518.29 Buy  
    Small Cap 2000 1,835.79 ↑ Buy  
    IBEX 35 8,370.10 ↑ Sell  
    BASF 47.970 Sell  
    Bayer 53.09 ↑ Buy  
    Allianz 203.00 Buy  
    Adidas 122.06 ↑ Sell  
    Lufthansa 7.766 ↑ Buy  
    Siemens AG 135.44 ↑ Buy  
    Deutsche Bank AG 10.150 Neutral  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,610/ 6,680
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(0/ 0) # 1,502
SJC Nhatrang6,625/ 6,707
(0/ 0) # 1,502
SJC Cantho6,625/ 6,707
(0/ 0) # 1,502
Cập nhật 06-12-2022 07:05:34
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Ngoại tệMua vàoBán ra
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GBP28.594,5429.812,86
JPY172,03182,11
KRW15,9819,47
Cập nhật lúc 07:00:36 06/12/2022
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