Pharmaceutical company Teva has agreed in principle to pay $4.25 billion after reaching a nationwide settlement with multiple states and local governments over its alleged role in the U.S. opioid crisis.
The Israeli-based pharma giant on July 26 announced the agreement, which is set to end thousands of lawsuits filed against the company.
The announcement came ahead of the company’s earnings results.
Drug manufacturer Teva makes Actiq and Fentora, both of which are branded fentanyl products and used to treat breakthrough pain in adults who have cancer. It also makes a number of generic opioids including oxycodone which is used to treat moderate to severe pain….